China’s Luckin Coffee plans to relist in US two years after fraud: report

Luckin Espresso is contemplating relisting on the Nasdaq, in accordance with media stories.
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Luckin Espresso plans to relist its shares in america, the Monetary Occasions reported on Wednesday, two years after the Chinese language espresso chain’s $300 million accounting scandal.

The corporate is exploring whether or not it ought to relist on the Nasdaq, as quickly as the top of this yr, the report stated citing two sources conversant in the matter.

Forward of the proposed relisting, Luckin held conferences with buyers and advisers to debate different choices for capital elevating, in accordance with the report.

A spokesperson for Luckin Espresso declined to remark.

Luckin was delisted from the Nasdaq inventory change in June 2020. Six months later, the corporate agreed to pay a penalty of $180 million to settle the accounting fraud expenses with the US Securities and Trade Fee.