RLX Technology Seeks to Raise $1.17 Billion in U.S. IPO

Chinese e-cigarette maker RLX Technology Inc. plans to raise as much as $1.17 billion from a U.S. initial public offering, highlighting how…

American stock exchanges remain attractive fund-raising venues for mainland companies despite rising tensions between the world’s two biggest economies.

RLX Technology, backed by Sequoia Capital China, is selling 116.5 million American Depositary Shares at $8 to $10 each, according to a U.S. filing.

Each ADS represents one ordinary share and will be listed on the New York Stock Exchange.

The Chinese company, known for its RELX-branded devices in China…

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