Chagee announces exercise, closing of underwriters’ option

Chagee (CHA) Holdings announced the Underwriters of its previously announced U.S. initial public offering have exercised their over-allotment option to purchase an additional 2,202,598 American Depositary Shares at an initial public offering price of $28.00 per ADS, resulting in additional gross proceeds of approximately $61.7 million, before underwriting discounts and commissions. Each ADS represents one Class A ordinary share of Chagee. The issuance and sale of the over-allotment option closed on April 30, 2025. Citigroup Global Markets, Morgan Stanley Asia, and Deutsche Bank, Hong Kong Branch acted as the representatives of the underwriters for the transaction, with China International Capital Corporation Hong Kong Securities, Tiger Brokers, Moomoo Financial, and Valuable Capital serving as underwriters