• July 24, 2024

RLX Hires Citigroup Dealmaker as CFO

 RLX Hires Citigroup Dealmaker as CFO
Photo: RLX Technology

The China-based vapor company RLX Technology has hired Lu Chao as its chief financial officer, according to people with knowledge of the matter.

Lu, a managing director and head of Asia healthcare investment banking at Citigroup, is expected to join the U.S.-listed e-cigarette maker as soon as March. Lu will help RLX Technology to identify expansion and investment opportunities in the healthcare industry that could apply its vaping technology, said the source, who asked to remain anonymous.

A Princeton University graduate, Lu joined Citigroup in December 2013, according to his LinkedIn profile.

RLX Technology, which is known for its RELX-branded devices, raised about $1.4 billion in an initial public offering in the U.S. earlier this year, according to Bloomberg. Lu was a lead banker on the deal, the source said, as Citigroup and China Renaissance Holdings arranged the offering.

Shares in RLX Technology have risen more than 75 percent since its January debut, giving the company a market value of about $32.7 billion.