詠竹坊

China baker with Madison Avenue dreams serves up New York IPO

Western China-based Chanson International will use proceeds from its IPO to expand its fledgling chain of U.S. cafes to about a dozen over the next year

This article only represents the author's own views.

What do the city of Urumqi, sleepy capital of Western China’s Xinjiang region, and New York’s splashy Madison Avenue have in common?

Not much, at least until this week, when the unlikely pair of cities were joined through an IPO by Chanson International Holding (CHSN.US), whose origins lie in Urumqi despite its French sounding name and Big Apple fixation. The company raised a relatively modest $13.6 million in its listing by selling 3.4 million shares for $4 each, representing the lower end of its $4 to $6 price range.

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