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Joele Frank, Wilkinson Brimmer Katcher and ICR Inc. handled the high-profile IPO of China's Luckin Coffee, which began trading today on the NASDAQ with an initial market valuation of about $4B.
The two-year-old company, which is opening 200 to 300 stores a month, aims to remove Starbucks from its perch as the top coffee shop in China.
Luckin has 2,370 stores in 28 cities, while Starbucks has more than 3,300 outlets.
Its outlets, which don't accept cash and lack seating, are geared to takeout and pick-up business
The company generated sales in the $120M range in 2018.
JFWBK's Ed Trissel, Leigh Parrish, Scott Bisang and Amy Feng represent Luckin, while ICR has Bill Zima and Fitzhugh Taylor on the account.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
