Chinese tea chain Chagee files for U.S. initial public offering [MSNBC.com]
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Source: MSNBC.com
Chinese tea chain Chagee filed for a U.S. initial public offering on Tuesday, seeking to trade on the Nasdaq using the ticker "CHA."The IPO filing comes as the company prepares to open its first U.S. store in the Westfield Century City mall in Los Angeles this spring.Since its founding in 2017, the company has grown to more than 6,400 teahouses across China, Malaysia, Singapore and Thailand, as of Dec. 31, according to aregulatory filingChagee said it generated net income of $344.5 million from revenue of $1.7 billion in 2024.Founder and CEO Junjie Zhang created the chain to modernize tea drinking after being inspired by the success of international coffee companies, according to a regulatory filing. China is Starbucks' second-largest market.Looking ahe
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