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Luckin Coffee Plans To Relist In US Two Years After Accounting Fraud - FT

By Dave Simpson

Luckin Coffee plans to relist its shares in the United States, the Financial Times has reported, two years after the Chinese coffee chain's $300 million accounting scandal.

Exploring Whether It Should Relist

The company is exploring whether it should relist on the Nasdaq, as soon as the end of this year, the report said citing two sources familiar with the matter.

Meetings

Ahead of the proposed relisting, Luckin held meetings with investors and advisers to discuss other options for capital raising, according to the report.

Declined To Comment

A spokesperson for Luckin Coffee declined to comment.

Delisted And Penality

Luckin was delisted from the Nasdaq stock exchange in June 2020. Six months later, the company agreed to pay a penalty of $180 million to settle the accounting fraud charges with the US Securities and Exchange Commission.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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