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Chagee Holdings Limited Announces Pricing of Initial Public Offering

1. Chagee raises $411.2 million through its IPO of 14.68 million ADSs. 2. Initial price set at $28.00 per ADS; trading starts on April 17, 2025. 3. Underwriters have a 30-day option for additional shares to cover over-allotments. 4. Established in 2017, Chagee has redefined tea culture with innovative branding.

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FAQ

Why Very Bullish?

The successful IPO indicates strong investor interest, potentially boosting CHA's stock value. Similar IPOs often see initial price increases driven by demand.

How important is it?

The IPO signifies a significant capital influx, likely attracting investor attention and momentum. Given the popularity of tea drinks, the brand's unique positioning is appealing in the market.

Why Short Term?

The immediate market reaction post-IPO will likely influence short-term price stability and growth. Historical evidence shows IPO spikes commonly last days to weeks.

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CAGTAPPEPSBUX
April 17, 2025 06:03 ET  | Source: Chagee Holdings Limited SHANGHAI, April 17, 2025 (GLOBE NEWSWIRE) -- Chagee Holdings Limited (“Chagee” or the “Company”), a leading premium tea drinks brand serving healthy and delicious freshly-made tea drinks, today announced the pricing of its initial public offering (the “Offering”) of 14,683,991 American Depositary Shares (“ADSs”), at an initial public offering price of US$28.00 per ADS, before underwriting discounts and commissions. Each ADS represents one Class A ordinary share of Chagee. The gross proceeds from the Offering, before deducting underwriting discounts and commissions and other offering expenses payable by Chagee, are expected to be approximately US$411.2 million. In addition, Chagee has granted the underwriters a 30-day option to purchase up to an additional 2,202,598 ADSs at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments. The ADSs are expected to begin trading on the Nasdaq Global Select Market on April 17, 2025, under the symbol “CHA”. The closing of the Offering is expected to occur on April 21, 2025, subject to the satisfaction of customary closing conditions. Citigroup Global Markets Inc., Morgan Stanley Asia Limited, and Deutsche Bank AG, Hong Kong Branch are acting as the representatives of the underwriters for the transaction, with China International Capital Corporation Hong Kong Securities Limited, Tiger Brokers (NZ) Limited, Moomoo Financial Inc., and Valuable Capital Limited serving as underwriters (collectively, the "Underwriters"). The Company's registration statement on Form F-1 relating to the Offering has been filed with the U.S. Securities and Exchange Commission and was declared effective on April 16, 2025. This Offering is being made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus relating to the Offering may be obtained, when available, by contacting Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, United States of America, by telephone at +1-800-831-9146 or by e-mailing prospectus@citi.com; Morgan Stanley Asia Limited, c/o Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, United States, by telephone at +1-866-718-1649 or by e-mailing prospectus@morganstanley.com; Deutsche Bank AG, Hong Kong Branch at 60/F, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong, or by telephone at +852-2203-8166 or by e-mailing asia.ecm.internal@list.db.com; China International Capital Corporation Hong Kong Securities Limited at 29/F, One International Finance Center, 1 Harbor View Street, Central, Hong Kong, or by telephone at +852-2872-2000 or by e-mailing ib_projecth2024@cicc.com.cn; Tiger Brokers (NZ) Limited at Level 27, 151 Queen Street, Auckland Central, New Zealand, 1010, or by telephone at +64-09-3938128 or by e-mailing vincent.c@tigerfintech.com; Moomoo Financial Inc. at 185 Hudson ST, 5 Harborside, Suite 2603, Jersey City, NJ 07311, USA, or by telephone at +1-888-721-0610 or by e-mailing IPO@us.moomoo.com; and Valuable Capital Limited at RM 3601-06 & 3617-19, 36/F, China Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong, or by telephone at +852-2500-0343 or by e-mailing leo.xiao@valuable.com.hk. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. About Chagee Holdings LimitedChagee is a leading premium tea drinks brand, serving healthy and delicious freshly-made tea drinks. Founded in 2017, Chagee has transformed traditional tea culture into a modern lifestyle experience, leveraging cutting-edge technology and innovative branding. With its commitment to quality, innovation, and cultural connection, Chagee continues to reshape the global tea industry. ContactInvestor RelationsRobin Yang, PartnerICR, LLCEmail: Chagee.IR@icrinc.comPhone: +1 (212) 537-5825

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