Luckin Coffee is preparing to relist on the U.S. stock market, five years after its delisting due to financial fraud. The Chinese brand plans to expand its footprint in America. Once relisted on the Nasdaq, Luckin aims to become a global hub for development and business, according to CEO Jinyi Guo.

Following fraud allegations and a delisting notice from the Nasdaq in 2020, Luckin Coffee terminated multiple executives and dropped its appeal. The company was taken off the Nasdaq ticker in June 2020. Luckin initially fought the delisting but eventually focused on operational development and enhancing brand influence.

Luckin Coffee, which surpassed Starbucks as the top coffee chain in China, currently has five stores in the U.S., all in New York City. CEO Jinyi Guo plans to open more locations in the U.S. with menus tailored to American consumers by 2026. The company remains committed to strategic execution and market competitiveness.

Read more at Yahoo Finance: Luckin Coffee is preparing a U.S. relisting five years after finance fraud scandal