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Geely Automobile Holdings ( (HK:0175) ) has shared an announcement.
Geely Automobile Holdings Limited has announced the completion of the election process for the privatization of ZEEKR, a significant move under its Merger Agreement. Eligible ZEEKR holders have opted for either cash or consideration shares, resulting in the issuance of 777,228,611 shares and a cash payout of approximately US$701 million. This development is part of Geely’s strategic efforts to streamline its operations and strengthen its market position. Additionally, Geely plans to secure a US$420 million short-term facility to finance the cash consideration, with Bank of China (Hong Kong) Limited coordinating the arrangement.
The most recent analyst rating on (HK:0175) stock is a Buy with a HK$19.00 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 prominent player in the automotive industry, primarily engaged in the manufacturing and sales of automobiles. The company is known for its focus on innovation and expansion in the global automotive market.
Average Trading Volume: 61,326,109
Technical Sentiment Signal: Buy
Current Market Cap: HK$175.8B
Learn more about 0175 stock on TipRanks’ Stock Analysis page.