News Formal

Chinese vaping firm RLX valued at nearly $35 billion in U.S. market debut

  • 📰 Reuters
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 97%

Philippines News News

Philippines Philippines Latest News,Philippines Philippines Headlines

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

RLX’s shares opened at $22.34, well above their initial public offering price of $12 per share. Shares were up 58% in early trade on the New York Stock Exchange.

RLX’s debut comes at a time of heightened scrutiny of Chinese listings from the U.S. government. Former U.S. President Donald Trump signed legislation last month to delist Chinese companies that do not adhere to American auditing standards.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

What happen to the vaping virus

Glock921

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:

 /  🏆 2. in PH

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jessica Alba's Honest Co valued at nearly $2 bln in strong market debutJessica Alba's consumer goods company Honest Co (HNST.O) was valued at $1.92 billion in its Nasdaq debut, after its shares opened 33% above their offer price on Wednesday. It's boring to sit at home alone, looking for someone to spend time with
Source: Reuters - 🏆 2. / 97 Read more »