Chinese tea company Chagee is set to brave choppy market conditions and an intensifying trade war between the world’s two largest economies as it seeks to raise almost $400mn on its New York debut this week.
The Shanghai-based chain, which specialises in coffee-style drinks such as “teaspressos” and oolong “teapuccinos”, is hoping to raise $396mn ahead of its first day of trading on Nasdaq on Thursday, according to filings with US regulators.
The company will aim to sell 14.6mn shares at between $26 and $28 each, implying a fully diluted market capitalisation of about $5.2bn.
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