According to information obtained from the website of the China Securities Regulatory Commission on February 19th, Geely subsidiary Lotus Technology Inc. has received the notice of filing for overseas issuance and listing.
It's reported that Lotus will merge with overseas special purpose acquisition company L Catterton Asia Acquisition Corp to go public on the Nasdaq Stock Market, issuing no more than 181,315,064 shares of common stock.
According to documents submitted by Lotus in October last year, the company's market valuation upon listing will reach $5.4 billion.
Notably, this will be the largest SPAC merger since August 2023.
As early as 2022, news of Lotus's plan to go public had surfaced.
However, Lotus's original plan was to go public by the end of 2023, but it was delayed due to "no specific reason."
In addition to Lotus, many brands under Geely have announced plans to go public, with some already completing their listings.
According to previous reports, on June 28, 2022, Polestar held a bell ringing ceremony at the New York Nasdaq Stock Exchange to officially celebrate its listing;
On December 21, 2022, Yika Tong Technology also successfully went public through the SPAC route.
