Not so bitter

Espresso-charged IPO: Luckin Coffee to set a new world record

Super-charged Chinese coffee chain is set to be the first company to list on a stock market only two years after it was founded. But it's cash-burning strategy implies more funds will be raised afterwards.

Luckin Coffee, the Chinese coffee chain that aims to challenge Starbucks in its home market, will set a world record as the first startup to list at a billion-dollar valuation only two years after it was founded. That is, if it is able to complete its up to $510 million US initial public offering later this month.

Should Luckin Coffee be able to make its debut on May 17 as scheduled, the high-flying startup will trade its shares publicly just 20 months after it was set up in October 2017. It will break Chinese e-commerce platform Pinduoduo’s record of listing just 33 months after it was founded.

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