The United States is just preparing to raise tariffs, and Zeekr has skyrocketed by 35%
Wealthy and chivalrous
2024-05-11 16:04Posted in Guangdong financial field creators
On May 11, local time, ZEEKR successfully rang the bell in the United States. At this point, the three-year sprint to IPO has finally been completed.
ZEEKR had planned to sell 17.5 million American Depositary Shares (ADSs) to raise up to $367.5 million, with prices set at between $18 and $21 per share.
Image source: Internet
However, due to the high enthusiasm of investors and strong market demand, ZEEKR eventually expanded the IPO scale. The number of shares sold increased from 17.5 million to 21 million, and the price per share was set at the highest price of $21, and finally raised $441 million.
As soon as ZEEKR was listed, it caused a frenzy of buying by American investors, and the stock price reached a maximum of $29.36 and finally closed at $28.26, an increase of 34.6%!
At this point, ZEEKR's valuation has reached $6.8 billion, which is 33.3% higher than the pre-IPO valuation of $5.1 billion! However, this valuation is still only half of the $13 billion valuation after last year's funding round.
The successful listing of ZEEKR in the United States means that it stands out in the battle of many domestic new energy vehicle companies to "go to sea" and compete for market share in Europe.
Due to the fierce competition in the domestic market, in recent years, automakers including BYD, SAIC, and Great Wall Motors have targeted the European market in an attempt to compete with European automakers on the turf of traditional European oil vehicles.
In January this year, BYD confirmed the construction of its first car assembly plant in Hungary. And just a few days ago, France also said that it welcomed BYD to build a factory there. BYD executives said they would consider building a second assembly plant in Europe in 2025.
According to data released by the China Passenger Car Association on Friday, domestic auto sales fell 5.8% year-on-year in April due to intensified price competition and consumers' cautious attitude towards large-scale consumption, but exports soared to a record high, with exports up 38% year-on-year to 417,000 units.
Therefore, expanding the share of overseas markets has become a new target for domestic new energy vehicle companies.
Returning to the boom this time, market analysts said that strong performance growth, which is significantly discounted from last year's valuation, may help attract investors. "They're able to buy growing businesses for a fraction of last year's valuation, and everybody likes something cheap."
Ironically, at the same time that Zeekr was buzzing with the market on its first day of listing, US President Joe Biden was planning to raise tariffs on imported cars from China.
Risk Warning: Investment is risky, and you need to be cautious when entering the market
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The United States is just preparing to raise tariffs, and Zeekr has skyrocketed by 35% -
The United States is just preparing to raise tariffs, and Zeekr has skyrocketed by 35% -
The United States is just preparing to raise tariffs, and Zeekr has skyrocketed by 35%
Personal opinion, for reference only