(CHA) Trading begins on the Nasdak Stock Exchange

The shares of the Chinese chain Chagee increased by 30 % during its first appearance on the public market on Thursday, as the company plans to launch the United States despite trade tensions between Washington and Beijing.

The arrow, which is traded on the Nasdaq Stock Exchange, was opened using the “Cha”, at $ 33.75 per share.

The company priced its first year offer at a price of $ 28 per share on Wednesday, at the end of its expected scope from $ 26 to $ 28. CAGE sold 14.7 million shares, raised $ 411 million, and the company’s evaluation of about $ 5 billion.

Since its foundation in 2017, the company has grown to more than 6,400 tets throughout China, Malaysia, Singapore and Thailand. Last year, Chiaj was born The net income of $ 344.5 million in revenues of $ 1.7 billion, according to organizational files.

The company is preparing to open its first American site later this spring at Westfield Century City Mall in Los Angeles.

The founder and CEO Junjie Zhang created the chain after it was inspired by the success of international coffee companies. China Starbucks The second largest market.

The public subscription follows several weeks from Market disturbances After the president Donald Trump Imposing a new tariff and It ignited a trade war With China. Others hope the public subscription, Including Claarna and StumbhubTheir plans for the public were delayed after the market decreased.

In recent years, it has also become less popular for Chinese companies for inclusion in American exchanges. From January 2023 to January 2024, the number of Chinese companies listed in the three largest US stock exchanges operations decreased by 5 %, according to the US -Chinese Economic and Security Review Committee.

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