May 6, 2019 / 4:05 PM / 14 days ago

Starbucks' China rival Luckin looks to raise up to $586.5 mln in IPO

May 6 (Reuters) - Luckin Coffee Inc, the Chinese challenger to Starbucks Corp, is looking to raise up to $586.5 million, its filing with the U.S. Securities and Exchange on Monday showed.

The company said it expects to offer 34.5 million American depository shares (ADS) priced between $15 and $17 per ADS in an initial public offering. Each ADS represents eight Class A shares, it said bit.ly/2YbOaoZ.

Reporting by Bharath Manjesh in Bengaluru; Editing by Arun Koyyur

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