New York-listed shares of ZEEKR Intelligent Technology Holding Limited ZK closed nearly 35% higher than its initial public offering price on its first day of trading on Friday.
What Happened: ZEEKR, the global electric mobility technology brand of Chinese automaker Geely Automobile Holding GELYY, had priced its U.S. initial public offering (IPO) of 21 million American Depositary Shares (ADS) at $21 per share.
The shares of Tesla Inc’s Chinese rival closed at $28.26 on Friday after opening at $26, giving the company a fully diluted valuation of $6.8 billion.
“There are huge demands and opportunities in the global new energy vehicle market. Zeekr is positioned as a premium electric mobility brand and is an important pillar supporting Geely’s electric transformation. I believe that Zeekr will be able to seize this historic opportunity and become a sustainable business that unlocks long-term value for users, investors and…
