Zeekr Intelligent Technology Holding Ltd Sees IPO Price In Range Of $18-$21/ADS; Existing Shareholders, Third-Party Investors Indicated To Subscribe Up To $349.1M Of ADSs Being Offered In IPO; Sees U.S. Ipo Of 17.5M ADSs; Plans To Use About $138.9MOf IPO Proceeds, To Develop More Advanced Bev Technologies, Expansion Of Product Portfolio; Plans To Use About $138.9M, For Selling, Marketing, Expansion Of Service And Charging Network
Portfolio Pulse from Benzinga Newsdesk
Zeekr Intelligent Technology Holding Ltd is planning a U.S. IPO with a price range of $18-$21 per ADS, offering 17.5M ADSs. Existing shareholders and third-party investors have indicated interest in subscribing up to $349.1M of the ADSs. The company intends to use approximately $138.9M of the IPO proceeds for the development of advanced BEV technologies and expansion of its product portfolio, as well as for selling, marketing, and expanding its service and charging network, according to an SEC filing.
May 03, 2024 | 10:50 pm
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Zeekr Intelligent Technology Holding Ltd is targeting an IPO price range of $18-$21 per ADS, with plans to raise funds for BEV technology development, product portfolio expansion, and service network growth.
The IPO announcement and the indicated interest from existing shareholders and third-party investors suggest a strong market confidence in Zeekr's business model and growth plans. The specific allocation of funds towards technology development and service network expansion indicates a strategic focus on enhancing product offerings and market reach, which could positively impact the stock price post-IPO.
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