US EditionGeely to take EV unit Zeekr private a year after New York float
- China's Geely Auto, majority owner of Zeekr, proposed taking its luxury EV unit Zeekr private a year after its May 2024 NYSE debut.
- Geely aims to delist Zeekr due to rising US-China trade tensions and concerns over potential forced delisting of Chinese firms on US exchanges.
- Geely offered $25.66 per Zeekr American Depositary Share, valuing the remaining 34.3% equity at around $2.2 billion to consolidate resources and cut costs.
- Geely founder Li Shufu stated the move will promote "better internal management and streamlined resources" to enhance global competitiveness amid fierce market competition.
- The privatization will remove public shareholder pressures and may help Geely navigate geopolitical risks while maintaining collaboration with global financial markets.
19 Articles
19 Articles
China’s Geely moves to take EV startup Zeekr private amid trade war with US
China’s Geely Auto wants to take its luxury EV unit Zeekr off the New York Stock Exchange one year after the company’s debut, per Zeekr filings. The take-private offer comes as the Trump administration explores kicking Chinese companies off American stock exchanges, part of a broader trade war that includes what has become a tariff quagmire between the U.S. and China. On Tuesday, Geely offered to pay $25.66 per Zeekr American Depository Receipt…
Taking Zeekr private, Geely emphasizes willingness to cooperate with global capital markets · TechNode
Geely Holding chairman Li Shufu said on Wednesday the Chinese automaker would “maintain close communication and collaboration with the US and international capital markets,” as it goes ahead with its plan to take its electric vehicle unit Zeekr private out of the New York stock market (our translation). That’s according to a statement published on Chinese social media platform WeChat. Geely Auto, the group’s main listed arm, has offered $25.66 p…
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