Luckin Coffee (LK) opens trading at $25 after the IPO was priced at $17. The opening trades value the company at over $5.5B.
Luckin is on a blistering pace of opening 200 to 300 of its small-sized coffee outlets a month in what's been a different model than what Starbucks (SBUX +0.6%) is utilizing in China.
Previously: Luckin Coffee sets initial IPO terms (May 6)
Previously: Luckin prices at $17 in upsized IPO (May 17)
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