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Geely Automobile Holdings ( (HK:0175) ) just unveiled an announcement.
Geely Automobile Holdings Limited has announced a significant transaction involving the privatization of its subsidiary, ZEEKR. The company plans to acquire all outstanding shares and ADSs of ZEEKR, excluding certain shares, through a merger agreement. Eligible ZEEKR holders can choose between cash or consideration shares, with the total cash consideration amounting to approximately US$2.4 billion if conducted entirely in cash. Alternatively, the issuance of consideration shares could represent about 10.9% of Geely’s total issued share capital. Upon completion, ZEEKR will become a wholly-owned subsidiary of Geely and will be delisted from the NYSE, potentially enhancing Geely’s market positioning and operational control.
The most recent analyst rating on (HK:0175) stock is a Buy with a HK$23.00 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 design, development, manufacturing, and sale of automobiles. The company focuses on producing a wide range of vehicles, including sedans, SUVs, and electric vehicles, catering to both domestic and international markets.
Average Trading Volume: 75,126,919
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$177.3B
Find detailed analytics on 0175 stock on TipRanks’ Stock Analysis page.