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May 16, 2019, 8:42 p.m. EDT

Luckin Coffee prices IPO at $17, increases number of shares it will sell: reports

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By Jeremy C. Owens


Luckin Coffee Inc. , a Chinese coffeeshop chain often compared with Starbucks Corp. /zigman2/quotes/207508890/composite SBUX +0.50% , increased the number of shares it will sell in its initial public offering and priced them at $17 apiece, according to multiple reports Thursday evening. CNBC, Reuters, Bloomberg News and Renaissance Capital all reported late Thursday that Luckin planned to sell 33 million shares, as opposed to the 30 million previously targeted, at the top of its proposed $15-to-$17 range. That sale would raise $561 million at an initial valuation of $3.9 billion. Shares are expected to begin trading Friday morning on the Nasdaq exchange under the ticker symbol LK.

US : U.S.: Nasdaq
$ 102.33
+0.51 +0.50%
Volume: 5.52M
Jan. 15, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$120.10 billion
Rev. per Employee

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