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COMING UP:Share Opener Variant 4

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00:00:00
piping hot debut fort looking coffee Friday the Chinese coffee chain that's challenging Starbucks on the mainland saw its shares surged forty seven percent of the open on the nasdaq the market now values a start but more than four billion dollars the Beijing based chain raise more than half a billion dollars making it the biggest public offering in the U. S. by a Chinese firm this year it comes amid escalating trade war between the US and China just two years old the aggressive start up we use the proceeds to further fuels fast expansion it runs nearly twenty four hundred stores in China some twelve hundred fewer than Starbucks but look in plans to add twenty five hundred this year what makes it popular cheap prices big discounts and fast deliveries of coffee that must be ordered on an app to rebound from a sales slump there Starbucks teamed up with economist John Ali Baba on coffee delivery last year but delivery and discounts come at a cost look in lost nearly half a billion dollars last year and it warns you may keep losing money in the foreseeable future