China’s Zeekr set to raise $367.5m in New York IPO

Chinese electric vehicle (EV) maker Zeekr is accelerating its New York initial public offering (IPO) timeline, with bookbuilding closing a day earlier than planned on Wednesday, aiming to raise more than $367.5 million, Reuters reported on Tuesday.

Zeekr, the premium EV brand owned by Geely, had originally scheduled bookbuilding closure for Thursday.

However, strong investor interest has prompted the company to move up the timeline, according to sources with direct knowledge of the matter.

Zeekr is aiming to raise up to $367.5 million by offering 17.5 million American Depositary Shares (ADS) priced between $18 and $21 each.

If the offering reaches the top of this range, Zeekr would be valued at approximately $5.13 billion.

Geely, Zeekr’s parent company, is among the cornerstone investors who have already committed to purchasing up to $349.1 million worth of stock in the offering.