Chinese EV maker Zeekr prices IPO at $21, at the top end of range
Chinese electric vehicle maker Zeekr priced its initial public offering at $21 a share Thursday, at the top end of its range.
The company will sell 21 million American depository shares to raise $441 million when it begins trading on the New York Stock Exchange on Friday under the ticker ZK. The offering sits at the top of Zeekr’s expected range of $18 to $21 a share, revealed in an F-1 filing with the Securities and Exchange Commission earlier this month.
Zeekr, which is backed by Chinese-based automotive group Geely, offers several luxury vehicle models, including an upscale sedan it began delivering in January. Geely will have more than 50% of the company’s voting power after the IPO is complete.
“Through developing and offering next-generation premium BEVs and technology-driven solutions, we aspire to lead the electrification, intelligentization and innovation of the automobile industry,” the company said in its SEC filing.
Source: CNBC
