Zeekr to close $367.5m IPO one day early

Automotive DECODED

Previous edition: 08 May 2024
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Zeekr to close $367.5m IPO one day early

Chinese EV maker Zeekr will close its New York initial public offering (IPO) to raise up to $367.5 million this week, Reuters reports, citing two sources with direct knowledge of the matter.

Zeekr, which is Geely’s premium brand, had planned to close the bookbuilding this Thursday, according to a term sheet distributed when the deal launched last week.

That has been brought forward by one day.

Zeekr declined to comment to Reuters.

The company is selling 17.5 million American depository shares in a price range of $18 and $21 each, according to its filings.

At the top of that range, Zeekr will be valued at $5.13 billion.

Key investors, including Geely, have subscribed for up to $349.1 million worth of stock on offer in the deal, according to the launch term sheet.

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