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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| BlackRock Inc | NYSE:BLK | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 757.00 | 0 | 09:09:36 |
From May 2019 to May 2024
By Josh Beckerman
Luckin Coffee Inc., a rapidly growing Chinese coffee chain, disclosed its plans for a U.S. initial public offering.
Luckin, which filed confidentially in February, said last that week it had a valuation of $2.9 billion after raising $150 million from investors including BlackRock Inc. (BLK).
Within 18 months, the company expanded from a single trial store to 2,370 locations as of March 31.
"We aim to become the largest coffee network in China, in terms of number of stores, by the end of 2019," Luckin said in its filing. Its 2018 revenue was $125.3 million.
Starbucks Corp. (SBUX) has more than 3,600 China locations.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 22, 2019 14:45 ET (18:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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