China's Luckin Coffee gets $240m investment from two shareholders

FILE PHOTO: A cup of 'Luckin Coffee' coffee is poured during the company's IPO at the Nasdaq Market site in New York, U.S., May 17, 2019. REUTERS/Brendan McDermid/File Photo

China’s Luckin Coffee Inc said on Thursday it would receive a $240 million investment from two shareholders, as the coffee chain tries to recover from an accounting fraud last year that derailed its business.

Chinese private equity firm Centurium Capital will lead the investment in exchange for preferred shares, while Joy Capital will also participate, the company said.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter