{"id":2095094,"date":"2023-11-09T12:12:02","date_gmt":"2023-11-09T17:12:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-geelys-zeekr-edges-closer-to-us-ipo-to-make-filing-public-this-week-sources\/"},"modified":"2023-11-09T12:14:56","modified_gmt":"2023-11-09T17:14:56","slug":"exclusive-geelys-zeekr-edges-closer-to-us-ipo-to-make-filing-public-this-week-sources","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-geelys-zeekr-edges-closer-to-us-ipo-to-make-filing-public-this-week-sources\/","title":{"rendered":"Geely&#8217;s Zeekr nears US IPO, filing to be made public this week &#8211; sources."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-geelys-zeekr-edges-closer-to-us-ipo-to-make-filing-public-this-week-sources%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2095094&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<h2>Zeekr to Unveil Plans for New York Stock Listing<\/h2>\n<p>3:00 \u200dPM UTC \u2013 November 9, 2023<\/p>\n<p>SHANGHAI (Reuters) \u2013 Zeekr, the\u2064 premium electric car brand of Chinese automaker Geely (GEELY.UL), is set\u2063 to make a\u200b splash this week by revealing\u2064 some details of its upcoming listing on the New York Stock Exchange. This move comes as the company aims to capitalize on the growing enthusiasm \u2062for electric vehicles, despite the strained relations between the United \u200dStates\u2062 and China.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The eagerly awaited \u2064prospectus of Zeekr will\u2064 be made\u200b public, and \u2062its shares could start trading on \u2064the stock exchange within a few weeks \u200bof the \u200dannouncement, \u200daccording to insiders familiar with the \u2063matter.<\/p>\n<p>Both sources, who wished to remain anonymous due to \u200dthe \u2064confidential nature\u200d of the information, confirmed the involvement\u200d of leading underwriters Goldman Sachs and \u2063Morgan Stanley. However, the size and price of the initial public offering (IPO) will \u2062be determined at a later stage.<\/p>\n<p>When approached\u2063 for comment, Zeekr, Morgan\u200d Stanley, and\u200c Goldman \u200bSachs declined\u2062 to provide \u2063any further details.<\/p>\n<p>Zeekr had previously filed for a U.S. \u2062IPO in December last year, with\u200b the aim \u2062of raising over $1 billion, as reported by Reuters. However, one of \u200dthe sources revealed that the\u2063 company is likely to \u2063secure a lower amount\u2064 than originally targeted.<\/p>\n<p>A confidential \u200cfiling allows companies to maintain a competitive\u200c edge by withholding information from rivals for \u200ca longer period, especially when the timeline for\u200d an IPO is not yet fixed.<\/p>\n<p>If successful, Zeekr&#8217;s IPO\u2064 could \u2062mark a significant milestone \u200bas the first major listing by\u2062 a Chinese company in the United States in two years. This follows\u2063 Beijing&#8217;s tightening of regulations on overseas share \u200csales in 2021, triggered by\u200c a cybersecurity \u200dinvestigation into ride-hailing giant Didi Global shortly after\u2062 its U.S. \u200dstock market debut.<\/p>\n<p>In February, Zeekr raised $750 million in a funding round, valuing the brand\u200c at $13 billion. Investors included Amnon Shashua, CEO of autonomous driving technology company \u200bMobileye Global (MBLY.O), which \u2064is majority-owned by Intel Corp (INTC.O), and Chinese battery\u200b giant CATL \u2063(300750.SZ).<\/p>\n<p>The profitability \u200dof pure electric\u200b vehicle\u2064 manufacturers has been impacted by a price war \u200cinitiated by Tesla in China earlier this year. In \u2063response, these companies have \u200dbeen actively \u2063cutting costs and forming partnerships to survive the increasingly competitive market.<\/p>\n<p>However, Zeekr has managed to improve its profitability by leveraging\u2062 the manufacturing facilities and cost-saving capabilities \u200bof its \u200bparent company, Zhejiang Geely Holding Group.<\/p>\n<p>CEO Andy \u200cAn revealed in\u2063 August that Zeekr achieved a\u2064 double-digit gross\u2064 profit in the\u2064 first half of this \u2063year, compared to a 5% gross \u2062profit \u2062in 2022.<\/p>\n<p>Established \u200cin 2021,\u2063 Zeekr ranked 13th in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-pushes-for-50-percent-electric-vehicle-sales-by-2030\/\" title=\"Biden Pushes for 50 Percent Electric Vehicle Sales by 2030\">electric vehicle sales<\/a> in China, \u2064with over\u200b 79,000 units sold in the first \u200cnine \u2063months of this year, more than double the figure from the\u200b same \u2064period in 2022. The brand offers four <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/spotted-socialist-aocs-tesla-parked-illegally-outside-whole-foods-in-posh-dc-neighborhood\/\" title=\"SPOTTED: Socialist AOC\u2019s Tesla Parked Illegally Outside Whole Foods in Posh DC Neighborhood\">electric vehicle models<\/a> in China, with its 001 crossover being\u200d the best-selling model priced from \u200d269,000 yuan ($36,927.22).<\/p>\n<p>Zeekr\u200b has also announced plans to\u2064 expand into overseas\u2062 markets, including the Netherlands, \u200bSweden, Germany, Israel, and Kazakhstan, among others.<\/p>\n<p>($1=7.2846 Chinese yuan renminbi)<\/p>\n<p>Reporting by Zhang Yan in Shanghai and Scott Murdoch in Sydney. Additional reporting by Kane Wu in Hong Kong; Editing\u2064 by Kim \u2063Coghill<\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this \u200dpost!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Rep. Ralph Norman<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Dr. Pierre Kory<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Dustin Olson<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Leo Hohmann<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Zeekr will this week\u200b publicly release some \u2063details of its plans to list shares in New York.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Top EU\u2062 court backs Google, Meta, and TikTok against Austrian law\u2062 mandating hate speech deletion.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Amazon to \u200dinvest millions in Olympus LLM model to rival\u200b OpenAI and Alphabet.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Meta said in \u2062a blog post it would require advertisers to disclose if their altered or created ads.<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> Who are the underwriters confirmed to\u200c be involved in Zeekr&#8217;s IPO?<\/h2>\n<p><span>  Zeekr to Unveil Plans for New York Stock\u2064 Listing<\/p>\n<p>Shanghai-based\u200d electric car brand, \u200bZeekr, is\u200d preparing\u2063 to make a big splash in the\u200c market by revealing some details of its upcoming listing\u2064 on the New York Stock \u2063Exchange. \u2062This move comes as Zeekr aims to capitalize on the growing enthusiasm for electric vehicles,\u200c despite the strained relations between the \u200bUnited States and China.<\/p>\n<p>The eagerly awaited prospectus\u200b of Zeekr will soon be made public, and its shares \u2064could start trading on the stock exchange within a few\u200c weeks \u2062after the announcement, according to insiders familiar with the matter. Prominent underwriters, Goldman Sachs and Morgan Stanley, have been confirmed to\u2064 be involved in the listing. However, the size and price \u2063of\u200d the initial public offering (IPO) will be \u2062determined at a later stage.<\/p>\n<p>When approached for comment, Zeekr, Morgan Stanley, \u200band Goldman Sachs declined to\u200b provide any further details.<\/p>\n<p>In December of last year, Zeekr \u200chad filed for \u2064a U.S. IPO\u2064 with\u2062 the aim of raising over $1\u2064 billion. However, one source revealed that the company is \u2062expected to secure a lower\u2062 amount than originally targeted.<\/p>\n<p>A confidential\u2063 filing allows companies\u2063 to maintain a competitive edge \u200cby withholding information\u200c from rivals for\u2063 a longer period, especially when\u2062 the timeline for an IPO is\u2064 not \u2063yet fixed.<\/p>\n<p>If successful, Zeekr&#8217;s\u2063 IPO could mark a significant milestone as the first major\u2064 listing by \u2062a Chinese company in the United States in two years.\u200b This development follows \u200cBeijing&#8217;s tightening of regulations on overseas share sales in 2021, \u2062which \u200cwas prompted by a \u200dcybersecurity investigation into ride-hailing giant Didi Global shortly\u200c after its U.S. stock market debut.<\/p>\n<p>In February, Zeekr raised $750 million in a\u200d funding \u2062round, valuing \u200bthe brand\u200c at $13 billion. Notable investors included Amnon Shashua, CEO of \u2063autonomous driving technology company Mobileye Global,\u2064 and \u2064Chinese battery giant \u200bCATL.<\/p>\n<p>The profitability of pure electric vehicle manufacturers has been impacted by a price\u2063 war initiated by Tesla in China earlier this year. In response, these \u2063companies\u200b have been \u2064actively \u2062cutting costs and forming partnerships to survive the increasingly \u2064competitive \u200bmarket.<\/p>\n<p>However, Zeekr\u200b has managed to improve its profitability by \u2063leveraging the manufacturing facilities and cost-saving capabilities of \u200cits parent company, Zhejiang Geely Holding \u2062Group.<\/p>\n<p>CEO Andy An\u2063 revealed in\u200b August that\u2062 Zeekr achieved \u200ca <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-geelys-zeekr-edges-closer-to-us-ipo-to-make-filing-public-this-week-sources\/\" title=\"Geely's Zeekr nears US IPO, filing to be made public this week - sources.\">double-digit gross profit\u2062 margin<\/a> in \u200bits first year \u2062of operation, which is an impressive feat in the challenging electric vehicle market.<\/p>\n<p>The upcoming New York\u200d Stock Exchange listing presents an exciting opportunity for Zeekr\u2062 to\u200b further\u200b expand its reach and establish\u2063 itself as a major player in the electric vehicle industry.\u2063 Investors and industry experts will closely watch the \u200ddevelopments as Zeekr reveals its plans and progresses towards its IPO.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>3:00 PM UTC \u2013 November 9, 2023 SHANGHAI (Reuters) \u2013 Zeekr, Chinese automaker Geely\u2019s (GEELY.UL) premium electric car brand, will this week publicly release some details of its plans to list shares in New York, according to two sources with direct knowledge of the matter, seeking to ride growing enthusiasm for EVs despite strained U.S.-China<\/p>\n","protected":false},"author":1911,"featured_media":2095095,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2095094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2095094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2095094"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2095094\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2095095"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2095094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2095094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2095094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}