HONG KONG : Zeekr, Chinese automaker Geely's upmarket electric car brand, has confidentially filed for a U.S. initial public offering, aiming to raise more than $1 billion, three sources with direct knowledge of the matter told Reuters.
Zeekr lodged its filings with U.S regulators last week and is planning to go public in New York as early as the second quarter of 2023, said two of the sources and a fourth source who also had direct knowledge of the matter.According to two of the sources, Zeekr also considered Hong Kong as its listing venue but picked New York in the hope of achieving a higher valuation.
Established by Geely, formally known as Zhejiang Geely Holding Group, in April 2021 to tap into increasing Chinese demand for premium EVs, Zeekr launched the 001 crossover in China later that year. A Zeekr listing could open the way for more Chinese share sales in the United States, considered to be the world's deepest pool of capital and to have a more predictable listing pace.
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