Chinese Tea Chain Chagee Files U.S. IPO, Plans L.A. Debut This Spring

Benzinga

Chinese bubble tea chain Chagee filed for a U.S. IPO on Tuesday, according to CNBC. The company plans to open its first U.S. location this spring at the Westfield Century City Mall in Los Angeles. Founder and CEO Junjie Zhang launched Chagee to modernize tea culture, drawing inspiration from the global success of coffee chains like Starbucks in China. The brand seeks to expand globally and serve tea drinkers in 100 countries. If successful, Chagee would join a shrinking pool of Chinese companies listed in the U.S.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Chinese bubble tea chain Shaggy filed for a US IPO on Tuesday, according to CNBC.

00:07Company plans to open its first US location this spring at the Westfield Century Mall in Los

00:11Angeles. Founder and CEO Jun Zhejiang launched Shaggy to modernize tea culture, drawing inspiration

00:17from the global success of coffee chains like Starbucks in China. Brand seems to expand globally

00:22and serve tea drinkers in 100 countries. If successful, Shaggy would join a shrinking pool

00:27of Chinese companies listed in the US. For all things money, visit Benzinga.com

00:32slash GSTV.

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