Chinese vaping firm RLX valued at nearly US$35 billion in US market debut

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

American depositary shares of RLX Technology Inc jumped 86per cent in their U.S. stock market debut on Friday, giving the Chinese vaping firm a ...

American depositary shares of RLX Technology Inc jumped 86per cent in their U.S. stock market debut on Friday, giving the Chinese vaping firm a market capitalization of nearly US$35 billion.

RLX's shares opened at US$22.34, well above their initial public offering price of US$12 per share. Shares were up 58per cent in early trade on the New York Stock Exchange.The Beijing-based company offered 116.5 million shares in its IPO, raising US$1.4 billion, after having earlier targeted a price range of US$8 to US$10 per share.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines