Luckin Coffee Inc.

Luckin Coffee Inc. (LK) priced its initial public offering on May 17, 2019 at $17.00 per ADS, raising $561M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $4B. Credit Suisse was lead-left underwriter, joined by Morgan Stanley, CICC and Haitong and others. Davis Polk, Conyers Dill & Pearman and King & Wood Mallesons advised the company and Cleary Gottlieb and Jingtian & Gongcheng advised the underwriters.

Luckin Coffee Inc. operates a coffee store network in China using a technology-driven retail model built on mobile apps and its stores. Customers order and pay through the apps in a cashier-less environment, and the company sells coffee and other products.

Status

IPO

Ticker

LK

Exchange

Nasdaq Global Select

Priced

May 17, 2019

IPO price

$17.00 per ADS

Raised

$561M

Market cap at IPO price

$4B

First filed

Apr 22, 2019

Underwriters

Credit Suisse, Morgan Stanley, CICC, Haitong, KeyBanc and Needham

Company counsel

Davis Polk, Conyers Dill & Pearman and King & Wood Mallesons

Underwriters' counsel

Cleary Gottlieb and Jingtian & Gongcheng

Sector

Consumer

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.