Geely's EV Brand ZEEKR Prepares for a $5.12B Valuation IPO on NYSE

Three years after its inception, Geely's electric vehicle (EV) sub-brand, ZEEKR, is preparing for an initial public offering (IPO) on the New York Stock Exchange (NYSE). According to records filed with the Securities and Exchange Commission (SEC), ZEEKR aims for a $5.13 billion valuation.

ZEEKR's IPO journey

ZEEKR, known for producing several models such as the flagship 001 shooting brake and the futuristic 009 multipurpose vehicle (MPV), has emerged as a prominent competitor in the EV industry in just three years.

Earlier this year, Geely said that ZEEKR had obtained $750 million in Series A capital, valuing the EV maker at roughly $13 billion upon investment conclusion. However, in its most recent offering filings, the EV maker seeks a substantially lower valuation, reflecting the current situation of Chinese EV companies in the US market.

Resourceful IPO Details

According to the SEC filing, ZEEKR Intelligent Technology Holding Limited intends to offer 175,000,000 ordinary shares, which are equivalent to 17,500,000 American Depository Shares (ADS). The EV manufacturer expects prices ranging from $18 to $21 per ADS, with a maximum raising of $367 million.

Global Aspirations in a Challenging Climate

Despite the lower valuation than predicted, a wide range of stakeholders remain interested in ZEEKR's trading debut. Geely, CATL, and Mobileye are among the stockholders who plan to purchase up to $349 million in American depository shares.

Following an exceptional domestic performance, ZEEKR has declared a desire to expand into worldwide markets, starting with Europe. The company's targeted global expansion, along with its domestic success, would allow ZEEKR to obtain extensive finance channels and compete with established industry competitors.

In a fast increasing EV sector, ZEEKR's NYSE listing is expected to be a significant step forward, positioning it for more growth and recognition in the worldwide EV ecosystem.