BUZZ-Chinese tea firm Chagee set for Nasdaq debut after $411 million IPO

Reuters04-17

** Chinese tea firm Chagee CHA.O set for Nasdaq debut on Thursday

** Shanghai-based CHA sold ~14.7 million American depositary shares at the top end of its marketed range of $26 to $28 apiece to raise $411.2 million

** Listing marks first notable U.S. IPO since President Trump unveiled sweeping tariffs earlier this month

** At the IPO price, Chagee fetched a valuation of $5.1 billion

** Citigroup, Morgan Stanley, Deutsche Bank and CICC were the lead underwriters for the offering

** Founded in 2017, Chagee is a Chinese premium tea drinks brand

** Cornerstone investors subscribed for Chagee's shares worth up to $205 million

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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