|
It
is hoping the share sale will yield a valuation of over $13
billion, as achieved during a private $750 million funding round
in February, two people said.
Hangzhou-based Zeekr will meet investors over two weeks in Hong
Kong, Singapore, London, New York, Boston, California and the
Middle East, the people said. They said the final deal size
would depend on financial market conditions later this year.
The people declined to be identified as the information has not
yet been made public. Geely, which handles media queries for
Zeekr, declined to comment.
Geely in December said Zeekr had confidentially filed for a U.S.
IPO, without detailing size or listing date.
If successful, a $1 billion IPO would be the largest U.S.
listing by a Chinese firm for over two years since ride-hailing
giant Didi raised $4.4 billion in mid 2021.
Valuations of new Chinese share sales in the U.S. have since
stalled as Chinese authorities increase oversight of domestic
firms wanting to list overseas.
Geely, formally Zhejiang Geely Holding Group, established Zeekr
in April 2021 to tap into increasing Chinese demand for high-end
EVs.
Zeekr markets three models with starting prices from 189,800
yuan ($26,042) to 499,000 yuan. It announced its first luxury
sports car earlier this month.
The automaker delivered 72,000 vehicles last year and aims to
deliver 140,000 this year. It has announced plans to sell
vehicles in the Netherlands, Sweden, Israel and Kazakhstan.
CEO Andy An told media on Aug. 22 that Zeekr's vehicle segment
recorded a double-digit gross profit margin in the first half of
2023, more than double its total 2022 figure.
($1 = 7.2883 Chinese yuan renminbi)
(Reporting by Julie Zhu in Hong Kong and Scott Murdoch in
Sydney; Editing by Christopher Cushing)
[© 2023 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
