Reported by Pulsestacks on May 10
ZEEKR Intelligent Technology (stock code: "ZK") is set to debut on the NYSE tonight. On May 10, on the eve of the bell ringing, ZEEKR updated the official news of its IPO, pricing each ADS at $21, with a total fundraising amount of $441 million.
JiKe announced in Announcement 0175 that the IPO pricing for JiKe's US stocks is set at $21 per ADS, at the top end of the previously announced range of $18 to $21 per share. JiKe will issue and sell 21,000,000 American Depositary Shares before exercising any over-allotment options, an increase from the previously disclosed amount. This represents approximately 8.0% of JiKe's issued share capital (on a fully diluted basis) and will raise approximately $441 million. Each ADS is equivalent to 10 shares of JiKe stock. With this fundraising, JiKe will raise $441 million, valuing JiKe at around $5.1 billion based on the offering price.
Prior to this, some existing shareholders and third-party investors of JiKe have expressed interest in subscribing to a total of up to $349.08 million in ADS, including Geely Auto's commitment of up to $320 million.
Ningde Times and Mobileye, as industry chain partners and existing investors, have also subscribed in this IPO. Mobileye has subscribed $10 million, while Ningde Times has subscribed $19.08 million.
On May 8, 2024, JiKe closed the subscription a day early, receiving nearly five times oversubscription, indicating high market expectations.
This listing of JiKe Auto is the largest U.S. IPO of a Chinese concept stock in the U.S. since July 2021, excluding SPAC listings, making it the largest conventional IPO in nearly three years.
In official news from JiKe, An Conghui, President of Geely Holding Group, Chairman of Geely Auto Group, CEO of JiKe Intelligent Technology, Executive Director of JiKe Intelligent Technology's Board of Directors, member, and chairman of the Board's Sustainable Development Committee, resigned from his positions on May 10 to focus on his roles as Chairman and CEO of JiKe, preventing overlap in JiKe's core management positions.
The JiKe Intelligent Technology Board of Directors has decided that Executive Director Gan Jiayue will succeed An Conghui as Chairman of the Sustainable Development Committee.
