Chinese EV player Zeekr kickstarts IPO plans again [Seeking Alpha]
GEELY AUTOMBL HL UNSP/ADR (GELYY)
NASDAQ:AMEX Investor Relations:
geelyauto.com.hk/en/announcement.html
Company Research
Source: Seeking Alpha
Sources indicated that the premium electric vehicle brand of Chinese automaker Geely is looking to raise up to $500M through a share offering on the New York Stock Exchange. Of note, Zeeker ( ZK ) had delayed its U.S. listing in November due to concerns over the valuation it would command from investors. Zeekr is known as a high-end electric car brand residing under the Geely Group umbrella, with ties to Geely Automobile Holdings Limited ( OTCPK:GELYF ). The Chinese EV maker offers the 001, 007, 009, and X models. Zeekr is expected to add MPV and crossover models to the portfolio. The company is focused on the premium end of the NEV market of vehicles costing 300,000 yuan ($41,200), according to Seeking Alpha analyst Bamboo Works . Zeekr was noted to consider Nio ( NIO ), Bayerische Motoren Werke Aktiengesellschaft ( OTCPK:BMWYY ), and Mercedes ( OTCPK:MBGAF ) as its main rivals. Recommended For You More Trending News Recommended For You More Trending News Related Stocks
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News
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- Is Geely Automobile (GELYY) Stock Outpacing Its Auto-Tires-Trucks Peers This Year? [Yahoo! Finance]Yahoo! Finance
- Geely Automobile (GELYY) Upgraded to Strong Buy: What Does It Mean for the Stock? [Yahoo! Finance]Yahoo! Finance
- Geely Profit Beats Estimates Even as China's Price War Rages On [Financial Post (Toronto, Ontario, Canada)]Financial Post