Chinese tea chain Chagee said on Thursday it was aiming to raise as much as $411 million in its initial public offering in the United States.
Market volatility stemming from uncertainty over U.S. trade policy has tempered IPO market activity as companies adopt a wait-and-see approach before proceeding with their stock market debuts.
Shanghai-based Chagee is offering nearly 14.7 million American depositary shares at a price range of $26 to $28 each.
Chagee will be listed on the Nasdaq under the symbol CHA.
Citigroup, Morgan Stanley, Deutsche Bank and CICC are the lead underwriters for the offering.
