Updated Version 1 - Chinese tea beverage brand Chagee Holdings Ltd. makes a strong debut on NASDAQ with stock price soaring, reaching a valuation of 6.2 billion USD
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Chinese tea brand Chagee Holdings Ltd. made its debut on NASDAQ, with its stock price rising by 21%, reaching a valuation of $6.2 billion. The company issued 14.7 million ADS, raising $411 million, making it the largest IPO of a Chinese consumer company since the electronic cigarette company Smoore Technology in 2021. Market reactions indicate investor confidence in the Chinese government's promotion of consumption. Founder Zhang Junjie holds nearly 54% of Class B shares, possessing 89% of the voting rights
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