Luckin Coffee IPO underwriter implemented the over-allotment right to raise an additional 84.15 million US dollars.
Professional coffee knowledge exchange more coffee bean information please follow the coffee workshop (Wechat official account cafe_style)
Luckin Coffee (LK.US) announced Wednesday that it has completed an additional 4.95 million shares of IPO at a price of $17 under an over-allotment right exercise agreement with underwriters of its initial public offering (ADS). Before deducting the issuance fee, commission and other expenses, Luckin Coffee raised US $84.15 million through the underwriter's over-allotment right.
Credit Suisse, Morgan Stanley, China International Capital Corporation (03908) and Haitong International (00665) are all co-lead underwriters of Luckin Coffee's initial public offering, while KeyBanc Capital Markets Inc. And Needham&Company are co-associate underwriters.
Luckin Coffee has a market capitalization of $4.2 billion at its offering price, making it the largest IPO deal by a Chinese company in the US since 2019.
As of yesterday's close, Luckin Coffee's share price was at $19.94, up 17.29% from its offering price.
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