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China Starbucks Rival Luckin Raises $561M In U.s. Ipo

by bloomberg.com posted 2months ago 32 views
Luckin Coffee Inc., a challenger to Starbucks Corp. in the race to dominate China’s growing coffee culture, raised $561 million in an expanded U.S. initial public offering. The Xiamen-based company sold 33 million American depositary shares Thursday for $17 each, after marketing 30 million shares for $15 to $17, according to data compiled by Bloomberg. The listing values Luckin at more than $3.9 billion based on the outstanding shares after the listing, according to company filings.

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