Chinese electric vehicle maker Zeekr, owned by Geely, raised $441m through its IPO in the US at a reduced valuation of $5.2bn.

Chinese electric vehicle maker Zeekr, owned by Geely Automobile Holding, has raised $441m through its IPO in the US at a reduced valuation of around $5.2bn. Zeekr, which posted a $1.16bn net loss last year, plans to use the IPO proceeds to develop advanced battery electric vehicle technologies, selling and marketing purposes, and general corporate needs. The listing values Zeekr at $5.1bn on a non-diluted basis and has a fully-diluted valuation of $5.5bn. Zeekr is the biggest US IPO by a China-based company since 2021.

May 09, 2024
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