EV maker Zeekr is filing for an initial public offering in the U.S. to raise about $1 billion, according to Reuters.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Zeekr is a unit of Chinese vehicle maker Geely and could see a valuation of $10 billion upon listing. The company is looking at international expansion with its 001 crossover vehicle.
The development comes after the overhang of a potential delisting in the U.S. for a number of Chinese names lifted recently and the IPO could happen in Q2 2023.
Upon a successful listing, Zeekr would join other major Chinese EV names listed in the U.S. including, NIO (NIO), XPeng (XPEV), and Li Auto (LI).
Chinese stocks continue to remain in the spotlight as the country emerges from strict COVID-19 restrictions and the Direxion Daily CSI 300 China A Share Bull 2x Shares ETF (CHAU) has already gained 10.2% over the past month.
Read full Disclosure