China's Ucar, in which Luckin chairman is top shareholder, halts shares

China's Ucar, in which Luckin chairman is top shareholder, halts shares

Channel NewsAsia - Business·2020-04-07 12:55

China's Ucar Inc, in which Luckin Coffee Chairman Charles Zhengyao Lu is the biggest shareholder, suspended trading of its shares on Tuesday after regulators questioned the car service provider about how the alleged fraud at Luckin would impact it.

FILE PHOTO: Charles Zhengyao Lu, non-executive chairman of Luckin Coffee, speaks during the company's IPO at the Nasdaq Market site in New York, U.S., May 17, 2019. REUTERS/Brendan McDermid/File Photo

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