Chinese vaping firm RLX valued at nearly $35 billion in U.S. market debut – Reuters
By Reuters Staff
RELX vaping products by RLX Technology Inc are seen displayed at a store inside a shopping mall in Beijing, China January 22, 2021. REUTERS/Florence Lo
(Reuters) – American depositary shares of RLX Technology Inc jumped 86% in their U.S. stock market debut on Friday, giving the Chinese vaping firm a market capitalization of nearly $35 billion.
RLXs shares opened at $22.34, well above their initial public offering (IPO) price of $12 per share. Shares were up 58% in early trade on…