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Electric vehicle maker Zeekr said it plans to seek a valuation of up to $5.13 billion in a U.S. initial public offering (IPO), the largest offering by a Chinese company in more than two years.
Zeekr hopes to raise up to $367.5 million by selling 17.5 million American depositary shares (ADS) at prices ranging from $18 to $21. Six Chinese IPOs raised $46.9 million in the U.S. in the first quarter of 2024, up from $428 million in the same period last year, according to Dealogic.
Several existing shareholders and third-party investors, including Geely Auto, Mobileye and CATL, have expressed interest in acquiring shares to be offered in the upcoming IPO.