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IPO Roundup: Investors eyeing IPOs from cloud company Fastly, 'Starbucks of China' Luckin

Meanwhile, brewpub chain Bricktown Brewery opted to postpone its public offering
Man pressing "IPO" on transparent screen
Investors are eagerly anticipating a pair of IPOs on Friday

Fastly Inc (NYSE:FSLY) will issue 11.25 million shares between $14 and $16 Friday to raise about $207 million. The cloud computing services provider offers content delivery, security, video streaming and other internet services to companies including The New York Times Co (NYSE:NYT). The eight-year-old company improves the download time and delivery of different websites to internet browsers.

Luckin Coffee Inc (NASDAQ:LK), the largest coffee chain in China behind Starbucks Corp (NASDAQ:SBUX), will issue 30 million shares between $15 and $17 Friday to raise about $586.5 million. Luckin Coffee lets customers order via an app and get coffee brought to their desks. It has expanded aggressively with the backing of investors such as BlackRock. “In just 18 months, it has opened 2,400 stores, making it around two-thirds the size of Starbucks in China. It has offered coupons and discounts to draw in new customers,” the Wall Street Journal reported. Revenue last quarter almost quadrupled from a year ago. That said, Luckin lost nearly $300 million in the past four quarters.

IPO Roundup: Avantor, Bricktown Brewery and Fastly among this week’s hot IPOs

Meanwhile, Bricktown Brewery Restaurants LLC (NASDAQ:BEER) opted to postpone going public. Citing volatility in the market, CEO Buck Warfield said the chain “pushed pause” on its IPO, The Oklahoman reported. The company had planned to issue 1.87 million shares between $7 and $9 Wednesday to raise about $19.41 million. The Oklahoma City brewpub chain, which serves burgers, pizza, American comfort food and beer at 14 locations in five states, did not specify an updated IPO date.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel


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