RLX Technology More Than Doubles Over IPO Price in First Day of Trading
China-based vaping products specialist RLX Technology (NYSE:RLX) has made an auspicious debut on the U.S. stock market. After selling for $12 per American depositary share (ADS) in its initial public offering, the company's stock opened at $22.34 per ADS on Friday, eventually rising to $29.51 at the close. In its IPO prospectus, RLX staked a claim as the "No. 1 branded e-vapor company in China," with its RELX line of vaping goods.
