In today’s briefing:
- ZEEKR IPO: Attractive ~$4.8B Midpoint Valuation Offers At Least 30% Upside
ZEEKR IPO: Attractive ~$4.8B Midpoint Valuation Offers At Least 30% Upside
- Geely-Backed ZEEKR set terms for U.S. IPO: EV maker offers 17.5M American depositary shares (ADSs) at the price range of $18-$21, implying a market cap of ~$4.8B at the midpoint.
- Geely Auto, Mobileye and CATL have indicated a non-binding interest in subscribing for an aggregate of up to ~$349M worth of the ADSs being offered in this offering.
- I have a positive view of ZEEKR IPO as the offering will be priced significantly below last round valuation of ~$13B.
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