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Geely Automobile Holdings ( (HK:0175) ) has provided an announcement.
Geely Automobile Holdings has completed the privatisation of its electric vehicle unit ZEEKR, acquiring all issued and outstanding ZEEKR shares and ADSs and merging its merger subsidiary into ZEEKR, which continues as the surviving entity. As a result, ZEEKR has been delisted from the New York Stock Exchange and is now an indirect wholly owned subsidiary of Geely, with its financial results remaining fully consolidated into the group’s accounts but with the previous non-controlling interest portion reclassified and eliminated, simplifying the group’s ownership structure and potentially increasing Geely’s direct economic exposure to ZEEKR’s performance while shareholders are cautioned to exercise care in dealing in the company’s securities.
The most recent analyst rating on (HK:0175) stock is a Buy with a HK$21.00 price target. To see the full list of analyst forecasts on Geely Automobile Holdings stock, see the HK:0175 Stock Forecast page.
More about Geely Automobile Holdings
Geely Automobile Holdings Limited is a Hong Kong-listed automotive manufacturer incorporated in the Cayman Islands, focusing on the design, production and sale of passenger vehicles and related mobility solutions. Through various brands and subsidiaries, the group targets both domestic Chinese and international markets, including the fast-growing new energy and premium electric vehicle segments.
YTD Price Performance: 16.64%
Average Trading Volume: 56,192,394
Technical Sentiment Signal: Buy
Current Market Cap: HK$171.6B
For detailed information about 0175 stock, go to TipRanks’ Stock Analysis page.