Luckin Coffee adds extra shot to US IPO

Coffee machine
By Jonathan Breen
17 May 2019

Luckin Coffee has raised $561m from its Nasdaq listing after boosting the size of the original American Depository Shares (ADS) offer and closing the deal a day early, according to a banker on the mandate.

The syndicate of CICC, Credit Suisse, Haitong International and Morgan Stanley began taking orders for the stock on May 7. KeyBanc Capital Markets and Needham & Co were also on the mandate.

With price guidance of $15 to $17 per ADS, the bookrunners were set to continue ...

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