Global firms lead as Chinese coffee star makes Nasdaq IPO

by Sol Dolor29 May 2019

Five firms worked on Luckin Coffee’s US$570m Nasdaq IPO.

Advising the Chinese coffee star were Davis Polk & Wardwell, which acted as US counsel, and King & Wood Mallesons (KWM), which acted as People’s Republic of China counsel. Conyers Dill & Pearman advised Luckin Coffee on Cayman Islands law.

The underwriters – Credit Suisse, Morgan Stanley, China International Capital Corporation, and Haitong International ­– were advised by Cleary Gottlieb Steen & Hamilton and Jingtian & Gongcheng.

From a single store in Beijing in October 2019, the company now has 2,370 stores across China. It aims to be the largest network of coffee shops in the country by the end of the year.

The Davis Polk corporate team was headed by partners Li He and James Lin, and included counsels Ran Li and Xuelin (Steve) Wang. Counsel Alon Gurfinkel, as well as associates Veronica Davis and Omer Harel, advised on tax matters. Associate Jennifer Wang provided Investment Company Act of 1940 advice.

The KWM team was headed by partners Ji Sun and Jingping Zhang.

The Cleary Gottlieb team was headed by partners Shuang Zhao, Jeffrey Karpf, Sandra Flow, and Sebastian Sperber.

Jingtian & Gongcheng’s team was led by partners Wei Ren, Xiang Gao, and Jinjin Chen.

The Conyers Dill team included counsel Wynne Lau.