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Luckin Coffee to relist shares in the US

Image courtesy of Luckin Coffee.

January 20, 2022

Luckin Coffee, a pioneer in coffee vending and a competitor to Starbucks in China that filed for bankruptcy protection in 2021, intends to relist its shares in the U.S., two years after a $300 million accounting scandal, according to a Reuters report citing the Financial Times.

Luckin met with investors and advisers to discuss other options for raising capital and is exploring relisting on Nasdaq, according to the report.

A spokesperson for Luckin Coffee declined to comment.

Luckin was delisted from Nasdaq in June 2020. The company agreed to a $180 million penalty six months later to settle accounting fraud charges from the U.S. Securities and Exchange Commission.