Geely’s premium EV brand, Zeekr, has put its US IPO on hold, Reuters reports.
The pause has been attributed to a mismatch in valuation expectations, two sources have disclosed.
Go deeper with GlobalData
In a statement to the news agency, Zeekr said: “The company has made a public filing to the SEC and is proceeding with the preparatory work.” It did not provide further details.
It comes after its IPO paperwork was made public, a year after Zeekr said it had confidentially filed for a US IPO.
It was valued at US$13bn in February this year. It raised $750 million from Chinese battery giant CATL and Amnon Shashua, the CEO of autonomous driving technology company Mobileye Global.
If successful, Zeekr will be the first major Chinese automotive company listing in the US.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
