Luckin Coffee Drops Nasdaq Appeal; Shares to Be Delisted

Embattled Chinese coffee chain Luckin Coffee Inc. said it no longer plans to appeal a decision by the Nasdaq Stock Market to delist its shares, effectively ending its one-year run as a U.S. publicly listed company. Luckin’s American Depositary Shares will be suspended from trading from June 29, and delisting procedures will commence thereafter, the Xiamen-headquartered company said in a regulatory filing Friday. The shares plunged about 50% on Friday morning to $1.47 apiece, taking the once-highflying company’s market capitalization…


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