Chinese bubble tea chain Chagee files for U.S. initial public offering

Chinese bubble tea chain Chagee filed for a U.S. initial public offering on Tuesday, seeking to trade on the Nasdaq using the ticker “CHA,” as it prepares to open its first U.S. store in Los Angeles this spring. Founded in 2017, Chagee has over 6,400 teahouses across China, Malaysia, Singapore, and Thailand, with plans to expand globally. Despite concerns over Chinese companies seeking U.S. listings, Chagee aims to follow the success of international coffee companies like Starbucks and serve tea lovers worldwide.

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