China Starbucks Rival Luckin Jumps After $561 Million IPO

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China Starbucks Rival Luckin Jumps After $561 Million IPOLuckin sold 33 million American depositary shares Thursday for $17 each, after marketing 30 million shares for $15 to $17. The IPO topped earlier expectations of a share sale that people familiar with the plans said in February could raise about $300 million. Concurrent with the IPO, the company raised an additional $50 million through a private placement with Louis Dreyfus Co., according to its filings.

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