Bawangchaji’s IPO price is US$28, which is at the high end of the market pricing range.

According to people familiar with the matter, Chinese milk tea chain brandsOverlord Cha JiThe U.S. IPO was priced at the high end of the market pricing range ($26 to $28) and successfully raised $411 million. Previously, according to people familiar with the matter, in Bawang Cha Ji’s U.S. initial public offering (IPO), the interest expressed by investors was several times the number of American depositary shares (ADS) that could be subscribed. Investors included Chinese funds and global pure-play long institutions.

On April 10, bubble milk tea chain Bawang Chaji sought to conduct an initial public offering (IPO) in the United States, raising $411 million. Documents filed with the U.S. Securities and Exchange Commission (SEC) show that the company will issue 14.68 million American depositary shares (ADS) at a price of $26-28 per share.

According to the official website of Nasdaq, Bawang Cha Ji is expected to be listed on the market this Thursday (April 17).