We advised Chagee on its IPO and Nasdaq listing

Davis Polk advised Chagee Holdings Limited on its SEC-registered initial public offering of 14,683,991 American depositary shares (ADSs), with total proceeds of approximately $411.2 million. Each ADS represents one Class A ordinary share of Chagee. Chagee has granted the underwriters an option to purchase up to an additional 2,202,598 ADSs. The ADSs are listed on the Nasdaq Global Select Market under the symbol “CHA.”

Chagee is a leading premium tea drinks brand, serving healthy and delicious freshly made tea drinks. Its creation, in 2017, was inspired by how international coffee chains have made coffee drinking both a worldwide lifestyle and a social concept since the 1970s. Today, with its relentless passion for technology and pursuit of innovation, Chagee stands out as China’s largest, fastest-growing and most popular premium freshly made tea drinks brand.

The Davis Polk corporate team included partners Li He, James C. Lin and Ran Li, counsel – registered foreign lawyer Kevin Zhang and registered foreign lawyer Xin (Sheen) Xu. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Counsel Matthew R. Silver provided 1940 Act advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, London and New York offices.

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