Reuters exclusively reports Luckin Coffee chief taps banks for $200 million loan in exchange for IPO role

Reuters exclusively reported that Chinese start-up Luckin Coffee’s chairman is seeking a loan of at least $200 million from banks, including Goldman Sachs and Morgan Stanley, under a deal that would award them mandates in the firm’s planned United States initial public offering (IPO). The coffee chain has already mandated Credit Suisse to lead the IPO, which could take place as soon as May and give it a valuation of about $3 billion, sources told Reuters. Morgan Stanley and Goldman are also advising Luckin on the preparatory work for the IPO.