Luckin Coffee nabs $980m from bigger CB, follow-on combo

coffee beans px230 for gc
By Jonathan Breen
13 Jan 2020

China’s challenger to Starbucks, Luckin Coffee, has raised $979.6m after increasing the size of a combined sale of new shares and a convertible bond, the first tap of the ADS equity-linked market in 2020.


The Nasdaq-listed coffee chain launched the follow-on portion of the fundraising with 7.2m primary American depository shares (ADS) on offer, but boosted the deal to 9m ADS, representing 72m of the firm’s class A ordinary shares. It sold the ADS at $42 each.

Shareholder Centurium Capital bagged $201.6m ...

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