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Luckin Coffee, a homegrown rival to Starbucks in China, on Thursday raised $561 million in its IPO, after increasing its number of offered shares and pricing at the top of its $15-$17 range. It will begin trading tomorrow on the Nasdaq under ticker LK.

Why it matters: This may be one of the few companies to actually benefit from the U.S.-China trade war escalation, as increased nationalism could prompt Chinese coffee drinkers to choose Luckin over its Seattle-based competitor.

Luckin raises $561 million to battle Starbucks in China

This might be one IPO that actually benefits from the U.S.-China trade war escalation.

Business

China

World

Luckin Coffee, a homegrown rival to Starbucks in China, on Thursday raised $561 million in its IPO, after increasing its number of offered shares and pricing at the top of its $15-$17 range. It will begin trading tomorrow on the Nasdaq under ticker LK.Why it matters: This may be one of the few companies to actually benefit from the U.S.-China trade war escalation, as increased nationalism could prompt Chinese coffee drinkers to choose Luckin over its Seattle-based competitor.

China is becoming the most formidable rival America has faced, and the risk of confrontation with Russia, North Korea or Iran still looms. Authoritarians are rising, the chaotic Afghanistan exit revealed the limits of U.S. power, and the pandemic, climate change and other critical challenges continue to pose grave threats.

Luckin raises $561 million to battle Starbucks in China

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