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China's Starbucks Challenger Files for U.S. IPO

  • Luckin applies to list on Nasdaq under the ticker symbol LK
  • Firm seeks to unseat Starbucks as China’s biggest coffee chain
A Luckin Coffee store in Beijing.

A Luckin Coffee store in Beijing.

Photographer: Gilles Sabrie/Bloomberg
Updated on

Luckin Coffee Inc., the ambitious startup that is challenging Starbucks Corp. in the race to dominate China’s growing coffee culture, filed for a U.S. initial public offering.

The Beijing-based company applied to list American depositary shares on Nasdaq under the ticker LK. The coffee unicorn is said to plan to raise around $300 million in the IPO, Bloomberg News reported in February. Last week, Luckin raised $150 million from BlackRock and other investors at a valuation of $2.9 billion.