China's Luckin Coffee markets IPO at discount to rivals

China's Luckin Coffee markets IPO at discount to rivals

A customer collects coffee beverages from a counter at a Luckin Coffee outlet in Beijing, China, on Tuesday, Jan. 15, 2019. Photographer: Gilles Sabrie/Bloomberg

Luckin Coffee Inc. quickly grew to become China’s second-biggest coffee chain with generous promotions that made its brews much cheaper than Starbucks Corp. Now it’s also selling stock at a discount to rivals.

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