EV maker Zeekr set to raise US$368mil from IPO

A Geely Automobile Holdings Ltd. Zeekr Mix electric vehicle during the Beijing Auto Show in Beijing, China, on Friday, April 26, 2024. Slowing demand for electric vehicles, heightened trade tensions and questions about whether Western legacy automakers can interest Chinese consumers will be the talk of Beijing as executives from top global car marques descend on the capital for the Auto China show. Photographer: Qilai Shen/Bloomberg

Beijing: 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$367.5mil in a US initial public offering (IPO).

The EV maker said in a filing last Friday that it plans to market 17.5 million American depositary shares (ADS) for US$18 to US$21 apiece in what will be the biggest US offering by a China-based firm since 2021.