The Krishi Mela will be held on the GKVK campus of UAS-B from November 14 to 17

The opportunely timed sale gives Luckin a war chest to survive the hit to consumption from the epidemic.

The post China’s Starbucks challenger Luckin Coffee isn’t all out of luck appeared first on DealStreetAsia.

(Bloomberg) -- Kingsoft Cloud Holdings Ltd. rose 40% in the first major trading debut by a Chinese company since the accounting scandal at Luckin Coffee Inc.The affiliate of Hong Kong-listed Kingsoft Corp. raised $510 million in its initial public offering, pricing its shares at the midpoint of a $16 to $18 targeted range. The shares closed at $23.84 in New York trading Friday, giving the company a market value of $4.77 billion.The Beijing-based cloud computing service company, which had marketed 25 million shares, increased the sale to 30 million American depositary shares.The IPO is the biggest by a Chinese company in the U.S. this year, according to data compiled by Bloomberg. It’s a tricky time for Chinese companies listing in the U.S. after the poster child of Chinese startups, Luckin, was accused of accounting fraud. Luckin’s shares had fallen 74% from its IPO price last year when trading of its stock was suspended in April.Read: Luckin Coffee Scandal Deals Blow to China Inc.’s Reputation“Given the context regarding China ADR, it’s actually good for quality companies,” Henry He, Kingsoft Cloud’s chief financial officer, said in an interview Friday evening in Hong Kong. “The capital has to be deployed and quality long-only investors will pay more attention to quality companies like us.”Tense MomentFinancial performance of Kingsoft Cloud has been consolidated with its Hong Kong-listed parent since its inception and there are publicly available track records for investors to analyze, he added.Its IPO comes at a tense moment for the U.S.-China relationship, after President Donald Trump and Chinese state media have exchanged heated criticisms regarding the origin of coronavirus responsible for the pandemic that has killed more than 269,000 and brought much of the world’s economy to a standstill.China Liberal Education Holdings Ltd., a Beijing-based educational company, fell 18% in its U.S. trading debut Friday after raising $8 million in its IPO. A third company that went public Friday, Ayala Pharmaceuticals Inc., rose 0.2% after its $55 million offering.Kingsoft Cloud is the third-biggest cloud services provider in China by revenue with a market share of 5.4%, according to its filings with the U.S. Securities and Exchange Commission. Last year, it lost $160 million on revenue of $568 million. Its chairman, Lei Jun, was a co-founder of smartphone-maker Xiaomi Corp., which will own about a 14% stake in the company after the offering, according to the filings.The offering was led by JPMorgan Chase & Co., UBS Group AG, Credit Suisse Group AG and China International Capital Corp. The company’s shares are trading on the Nasdaq Global Select market under the symbol KC.(Updates with closing share price in second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

A portable plucking mechanism for birds, comprising a rotating head with a plurality of flexible protrusions operably connected to a motor, a plurality of arm members, and an attachment mechanism optionally comprising a trailer hitch receiver and an electrical connection to a power source. These components are connected with a plurality of articulable joints, allowing for optimal positioning of the rotating head (at the distal end of an arm member) in space relative to the position of the attachment mechanism (at the proximal end of another arm member). Thus, the user has convenient access regardless of terrain or obstacles, the ability to easily reposition the head, and the ability to manipulate the body of the bird with both hands, to frictionally engage a plurality of feathers with the rotating flexible protrusions, while minimizing damage to the meat of the bird.

The fallout from Luckin Coffee’s accounting scandal is spreading far beyond the high-flying Starbucks challenger, with renewed concerns about Chinese corporate governance dragging down stocks across industries and threatening to bring a halt to the country’s overseas initial public offerings. The Xiamen-based coffee chain said on Thursday that its chief operating officer and some underlings […]

Accounting woes at Luckin Coffee led to a 75% decline in the Chinese company's stock on Thursday.

Concern in Beijing that accounting scandal could damage other overseas listings

The after-effects of triumphant bets on Chinese companies should spur more gains for sceptics