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Zeekr, the premium electrical automobile (EV) model of Chinese language automaker Geely Vehicle Holdings GELYY, has reportedly reinitiated its plan to lift as much as $500 million in an preliminary public providing (IPO) in New York.
Zeekr halted its itemizing intentions in November on account of valuation discrepancies and market volatility, reported Reuters.
The corporate has resumed engagement with potential traders by means of a non-deal roadshow previous the IPO, the report famous.
“The corporate has made a public submitting to the SEC and is continuing with the preparatory work,” the report quoted Zeekr. The corporate submitted its prospectus to U.S. regulators in November.
Through the first quarter of 2024, six Chinese language corporations collectively raised $46.9 million by means of IPOs within the U.S, contrasting sharply with $428 million raised throughout the identical interval final yr, the report cited information from Dealogic. This marked the quietest first quarter since 2017.
Zeekr reportedly goals to attain a 2024 supply goal of 230,000 automobiles, doubling its 2023 figures.
Established in 2021 by Geely, previously Zhejiang Geely Holding Group, Zeekr seeks to capitalize on the growing demand for premium EVs in China.
As per the report, the corporate secured $750 million in funding in February final yr, with traders together with Amnon Shashua, CEO of autonomous driving know-how agency Mobileye World, and Chinese language battery big CATL, valuing the model at $13 billion.
Disclaimer: This content material was partially produced with the assistance of AI instruments and was reviewed and revealed by Benzinga editors.
Picture Credit – Shutterstock
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