11 people participated in the ringing of the bell in the listing of ZEEKR, and Li Shufu, the "car madman", was pleased to mention the ninth IPO

Blue Whale Finance

2024-05-10 22:46Posted on the official account of Beijing Blue Whale Finance

Following Wei Xiaoli, another new Chinese car-making force landed on the U.S. stock market.

On the evening of May 10, Beijing time, ZEEKR Intelligent Technology Holdings Co., Ltd. (hereinafter referred to as "ZEEKR") was officially listed on the New York Stock Exchange in the United States with the stock code "ZK". It is reported that due to oversubscription, ZEEKR expanded the scale of the IPO, issuing a total of 21 million American depositary shares (ADS, each ADS corresponds to 10 ordinary shares) at a price of $21 per share, raising about $441 million, and if the underwriters exercise their over-allotment rights, the issuance scale will be further expanded to 24.15 million ADSs, raising about $507 million.

Blue Whale News exclusively learned from ZEEKR insiders that a total of 11 people participated in the bell ringing ceremony that night, including in addition to An Conghui, CEO of ZEEKR Intelligent Technology, Gui Shengyue, CEO and Executive Director of Geely Automobile Holdings Co., Ltd., Li Donghui, CEO of Geely Holding Group, Yang Xueliang, Senior Vice President of Geely, Yuan Jing, CFO of ZEEKR, etc.

With the listing of ZEEKR, Li Shufu, the founder of Geely Holding Group, known as the "car madman", ushered in his ninth IPO. Previously, Geely had 8 listed companies: Geely Automobile, Volvo Cars, Qianjiang Motorcycle, Polestar, ECAR, Hanma Technology, Lifan Technology and Lotus.

From the perspective of listing time, it took 37 months from the brand release to the IPO on April 15, 2021. According to the prospectus, the total operating income of ZEEKR in 2021, 2022, and 2023 will be 6.5 billion yuan, 31.9 billion yuan, and 51.7 billion yuan respectively. Its revenue composition mainly comes from three businesses, including vehicle sales, three-electric business, R&D and other services. By the end of April 2024, it had delivered more than 240,000 vehicles.

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