E-cigarette maker RLX Tech covers $1.2bn IPO

Cigarette cigarettes tobacco smoking from Adobe 31Mar20 575x375
By Jonathan Breen
18 Jan 2021

Chinese e-cigarette manufacturer RLX Technology has drawn enough early demand to well oversubscribe its US IPO worth up to $1.16bn, according to a source familiar with the matter.

The company is floating 116.5m American depository shares (ADS) on the New York Stock Exchange. Each ADS, which represents one class A ordinary share, is on sale at $8.00 to $10.00.

Lead underwriter Citi, working with China Renaissance, launched bookbuilding for the listing on January 15 and is ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial