China's Zeekr Prices US IPO At Top End Of Estimated Range - What's On The Cards?
China's Zeekr Prices US IPO At Top End Of Estimated Range - What's On The Cards?
ZEEKR Intelligent Technology Holding Limited (NYSE:ZK), the global electric mobility technology solutions brand of Chinese automaker Geely Automobile Holding (OTC:GELYY), priced its U.S. initial public offering (IPO) of 21 million American Depositary Shares (ADS) at $21 per share.
中国汽车制造商吉利汽车控股公司（场外交易代码：GELYY）旗下的全球电动汽车技术解决方案品牌极客智能科技控股有限公司（纽约证券交易所代码：ZK）将2100万股美国存托股票（ADS）的首次公开募股（IPO）定价为每股21美元。
The shares will begin trading on May 10, 2024, on the New York Stock Exchange under the ticker symbol "ZK."
这些股票将于2024年5月10日在纽约证券交易所开始交易，股票代码为 “ZK”。
The company earlier planned to sell 17.50 million ADSs with the price estimated between $18.00 and $21.00 per ADS.
该公司 早些时候 计划出售1,750万张ADS，估计每张广告的价格在18.00美元至21.00美元之间。
The offering is expected to close on May 14, 2024, subject to customary closing conditions.
此次发行预计将于2024年5月14日结束，但须遵守惯例成交条件。
The company has granted the underwriters an option, exercisable for 30 days from the date of the final prospectus, to purchase up to an aggregate of 3.15 million additional ADSs at the IPO price.
该公司已授予承销商自最终招股说明书发布之日起30天内可行使的期权，按首次公开募股价格额外购买最多315万张美国存托凭证。
The total gross proceeds of the offering are expected to be approximately $441.0 million and $507.2 million if the underwriters choose to exercise their over-allotment option in full.
本次发行的总收益预计约为4.41亿美元，如果承销商选择全额行使超额配股权，则为5.072亿美元。
The IPO gives Zeekr a fully diluted valuation of $5.5 billion, while on a non-diluted basis, the company is valued at about $5.1 billion. The company closed orders from investors a day earlier due to strong demand, according to a report from Reuters.
首次公开募股使Zeekr的全面摊薄估值为55亿美元，而按未摊薄计算，该公司的估值约为51亿美元。据路透社报道，由于需求强劲，该公司于前一天关闭了投资者的订单。
Strategic investors, including Geely Automobile, Contemporary Amperex Technology Co Ltd, and Mobileye Global Inc (NASDAQ:MBLY), accounted for $300 million worth of stock sold in the IPO, the report noted.
报告指出，包括吉利汽车、当代安德时代科技有限公司和Mobileye Global Inc（纳斯达克股票代码：MBLY）在内的战略投资者在首次公开募股中出售了价值3亿美元的股票。
The IPO was multiple times oversubscribed but analysts doubt an imminent surge of Chinese listings in New York, Reuters noted.
路透社指出，首次公开募股多次获得超额认购，但分析师怀疑中国在纽约的上市人数即将激增。
Zeekr's strong demand for IPO comes amid a fierce EV price war in China, prompting companies like Zeekr, BYD Company (OTC:BYDDY), SAIC Motor Corp Ltd, and Great Wall Motor to expand into Europe.
极客对首次公开募股的强劲需求是在中国激烈的电动汽车价格战中出现的，这促使极客、比亚迪公司（场外交易代码：BYDDY）、上汽集团和长城汽车等公司向欧洲扩张。
While Zeekr's IPO valuation represents a decrease from its previous valuation, the company has shown growth, delivering its first vehicle in October 2021 and surpassing some competitors' deliveries in the first four months of 2024, the report mentioned.
报告提到，尽管极客的首次公开募股估值较之前的估值有所下降，但该公司已显示出增长，于2021年10月交付了第一辆汽车，并在2024年前四个月超过了一些竞争对手的交付量。
Zeekr disclosed a surge in total revenue to ¥51.67 billion ($7.28 billion) in 2023, but its net loss widened to ¥(8.26) billion.
极客透露，2023年总收入激增至516.7亿日元（合72.8亿美元），但其净亏损扩大至82.6亿日元。
The report mentioned that the listing marks the biggest Chinese flotation on U.S. stock exchanges since 2021.
报告提到，此次上市是自2021年以来中国在美国证券交易所最大规模的上市。
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Image Credits – Shutterstock
图片来源 — Shutterstock