Deals
China Vaping Firm More Than Doubles in Trading Debut
- China’s biggest e-cigarette maker reaches $46 billion value
- Listing shows demand despite Washington-Beijing rift
A counter selling Relx e-cigarettes in Beijing, China.
Source: VGC/Getty Images
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Chinese e-cigarette maker RLX Technology Inc. jumped 146% in its trading debut after raising $1.4 billion in a U.S. initial public offering.
RLX Technology’s American depositary shares closed at $29.51 Friday, giving the company a market value of about $46 billion.