China’s Zeekr makes US IPO filing public By Reuters - Stock Region News

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Thursday, November 9, 2023

China’s Zeekr makes US IPO filing public By Reuters



© Reuters. FILE PHOTO: People walk past a booth of Zeekr, Chinese automaker Geely’s premium electric vehicle (EV) brand, at a shopping mall in Beijing, China November 3, 2023. REUTERS/Tingshu Wang/File Photo

(Reuters) -Zeekr, a premium electric car brand owned by Chinese automaker Geely, disclosed its financial details for the first time on Thursday as it prepares to list in the United States in the next few months.

Earlier on Thursday, Reuters was first to report the premium electric car brand will reveal some details this week of its plans to list.

The listing could mark the first major float by a Chinese company in the United States in two years, following uncertainty fueled by strict regulatory scrutiny in China which had forced ride-hailing giant Didi Global to delist from the New York Stock Exchange.

Only six mainland China-based companies launched U.S. IPOs in 2022.

Since then, however, Beijing has softened its stance towards companies looking to list internationally, unveiling a set of rules earlier this year to revive such listings, after the U.S. accounting watchdog and China solved a longstanding audit dispute in December 2022.

Goldman Sachs and Morgan Stanley are the lead underwriters for the IPO.



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