By: BloombergZeekr’s IPO will be the biggest by a China-based firm in the US since 2021. Zeekr Intelligent Technology Holding Ltd, the high-end electric car brand under Zhejiang Geely Holding Group Co, is seeking to raise as much as US$367.5 million in a US initial public offering.
Zeekr would have a market value of about US$5.5 billion at the top of that range based on its filings with the US Securities and Exchange Commission. The US$15.7 billion raised in 72 IPOs on US exchanges since Jan 1 is now almost double the total at this point last year, with half of 2023’s volume coming from the blockbuster offering by Johnson & Johnson spinoff Kenvue Inc, according to data compiled by Bloomberg.US listings by Chinese companies have been small and rare in the years since a crackdown following the US$4.
Although Chinese regulators have since eased curbs on overseas listings so long as the companies are compliant with the rules, no issuer based in the country raised more than US$200 million last year in the US, according to data compiled by Bloomberg.