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RLX Technology IPO: 15 Things to Know as Chinese Vaping Play RLX Stock Blazes Higher

Editor’s Note: A previous version of this article claimed RLX Technology sold its vaping products in 13 countries. The company says it only sells its products in China.

RLX Technology (NYSE:RLX) stock is flying high on Friday following the launch of its initial public offering (IPO).

upcoming IPOs
Source: Shutterstock

Here’s everything investors need to know about RLX Technology and its IPO.

  • RLX Technology is offering American Depositary Shares of RLX stock up on the New York Stock Exchange.
  • The company is pricing these shares at $12 each.
  • That’s above its previous guidance of $8 per share to $10 per share for its IPO.
  • The RLX Technology IPO includes a total of 116.5 million shares of its stock.
  • That has it set to gain $1.4 billion from the IPO.
  • Each ADS is the equivalent of one share of the company’s stock.
  • The lead underwriters for the offering are Citigroup and China Renaissance.
  • RLX Technology is a Chinese vaping company that was founded in 2018.
  • It reported revenue of $324.2 million in the first nine months of 2020.
  • That’s a 93% increase from the same period of the year prior.
  • The company sells its vaping products in China.
  • It’s actually the largest vape company in the country with control of 62.2% of the country’s market.
  • However, it’s worth noting that vaping products only have a 1.2% penetration rate in China.
  • RLX Technology is led by CEO Kate Wang.
  • Wang is the previous head of ride-sharing company Uber’s (NYSE:UBER) China operations.

RLX stock was up 121.5% as of noon Friday.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/01/rlx-technology-ipo-16-things-to-know-as-chinese-vaping-play-rlx-stock-blazes-higher/.

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