Luckin Coffee, the Chinese challenger to Starbucks, is looking to raise up to US$586.5 million , its filing with the US Securities and Exchange on Monday showed.
Luckin Coffee, which has been expanding at breakneck speed, currently operates 2,370 stores in 28 Chinese cities and plans to open 2,500 more this year as it tries to displace Starbucks as China's largest coffee chain.
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