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Luckin Coffee Accedes to Delisting From Nasdaq
Published on: 2020-06-28
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LUCKINLuckin Coffee Inc. will be delisted from the Nasdaq after it received two notices from the New York-based stock exchange over failure to meet listing rules, the scandal-plagued Chinese coffee chain said Friday.
 

The company originally scheduled a hearing on the issue for June 25. But the day before the hearing it withdrew the request and decided not to fight the Nasdaq’s delisting decision, according to a statement issued Friday.
 

The company’s shares will be suspended at the opening of business Monday. The stock plunged more than 55% to $1.32 Friday morning. Luckin was listed on the Nasdaq in May 2019 with an initial public offering price of $17 each. At its peak, Luckin traded at just over $50 a share with a market value of $12 billion.
 

The Nasdaq will file a notice of delisting when all appeal periods have expired, Luckin said.
 

Luckin's board will also require Chairman Lu Zhengyao. The proposal was requested by a majority of directors and was based on the findings of an internal investigation, the Chinese company said in a filing. The board will hold a special meeting on the matter on July 2.
 

瑞幸咖啡退市

瑞幸放弃最后的“挣扎”。北京时间6月26日晚,瑞幸发布公告称,公司已在6月24日决定撤回此前的听证会请求,纳斯达克总法律顾问办公室已经发出通知,公司股票将于6月29日(周一美股)开盘时停牌。

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