RLX Technology Inc.

RLX Technology Inc. (RLX) priced its initial public offering on Jan 22, 2021 at $12.00 per share, raising $1.4B, and listed on NYSE. At the IPO price its market capitalization was about $18.64B. Citigroup was lead-left underwriter. Skadden, Arps, Maples and Calder and Han Kun advised the company and Latham & Watkins and Jingtian & Gongcheng advised the underwriters.

RLX Technology Inc. is a branded e-vapor company in China, active in research, product development, supply chain management and offline distribution. It has launched five series of closed-system rechargeable e-vapor products and reports a 62.6% share of closed-system retail sales in the first nine months of 2020.

Status

IPO

Ticker

RLX

Exchange

NYSE

Priced

Jan 22, 2021

IPO price

$12.00

Raised

$1.4B

Market cap at IPO price

$18.64B

First filed

Dec 31, 2020

Underwriters

Citigroup

Company counsel

Skadden, Arps, Maples and Calder and Han Kun

Underwriters' counsel

Latham & Watkins and Jingtian & Gongcheng

Sector

Consumer

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.