Chinese vaping firm RLX raises $1.4 bln in U.S. IPO 


Date: 29.01.2021

Chinese vaping firm RLX Technology Inc RLX.N sold shares in its U.S. initial public offering (IPO) on Thursday at $12 a piece, above its target range, to raise $1.4 billion, according to a person familiar with the matter.

The IPO values Beijing-based RLX at $18.6 billion. The company had set an initial target price range of $8-$10 per share for a sale of around 116.5 million shares. RLX did not respond to a request for comment.

RLX's share offering comes as Chinese listings face increased scrutiny from the U.S. government. Former President Donald Trump signed legislation last month that would kick Chinese companies that do not adhere to American auditing standards off U.S. stock exchanges. Trump also signed an executive order in November banning U.S. investment in companies deemed to have ties to the Chinese military.

RLX Technologies, Inc. provides blade hardware and management technologies. It offers control tower, which provides remote management, monitoring and control of hardware, operating systems, network services, and various IT resources to consuming management tasks.

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