Chinese EV maker Zeekr prices IPO at $21, at the top end of range [MSNBC.com]
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Source: MSNBC.com
Chinese electric vehicle maker Zeekr priced its initial public offering at $21 a share Thursday, at the top end of its range.The company will sell 21 million American depository shares to raise $441 million when it begins trading on the New York Stock Exchange on Friday under the ticker ZK. The offering sits at the top of Zeekr's expected range of $18 to $21 a share,revealed in an F-1 filingZeekr, which is backed by Chinese-based automotive group Geely, offers several luxury vehicle models, including an upscale sedan it began dering in January. Geely will have more than 50% of the company's voting power after the IPO is complete."Through developing and offering next-generation premium BEVs and technology-driven solutions, we aspire to lead the electrification, intelligentization and innovation of the automobile industry," the company said in its SEC filing.Zeekr could pose big competition forTesla"Our sales gap with Tesla keeps on narrowing," Zeekr CEO Andy Antold CNBCAccording to the
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