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Luckin Coffee To Resume Trading At Nasdaq Wednesday

Luckin Coffee Inc. (NASDAQ: LK) will resume trading on Wednesday, Nasdaq Inc. (NASDAQ: NDAQ) said in a statement

Benzinga · 05/20/2020 10:57

Luckin Coffee Inc. (NASDAQ: LK) will resume trading on Wednesday, Nasdaq Inc. (NASDAQ: NDAQ) said in a statement Tuesday.

The trading of the Chinese coffee chain company at the Nasdaq Stock Market was halted back in April after the disclosure of securities fraud by its Chief Operating Officer Jian Liu.

The move comes a day after Luckin said it received a delisting notice from Nasdaq. The latter cited "public interest concerns" and "failure to publicly disclose material information" by Luckin as the reason for the delisting.

The Starbucks Corporation (NASDAQ: SBUX) Chinese competitor said it planned to appeal against the decision before a Nasdaq Hearings Panel, and the company's shares will continue to be listed until a decision is made.

Reuters reported Tuesday that Nasdaq is considering tweaking listing rules to limit the number of Chinese companies that can list on its exchange desk.