ZEEKR Intelligent Announces IPO Of 21 Mln ADSs At $21/ADS

(RTTNews) - Zeekr Intelligent Technology Holding Ltd. (ZK), a battery electric vehicle technology firm, on Friday announced the pricing of its initial public offering of 21 million American Depositary Shares or ADSs at $21 per ADS.

Each ADS represents 10 shares of the company.

The company has granted the underwriters an option to purchase up to 3,150,000 additional ADSs at the IPO price.

The total gross proceeds of the offering are expected to be around $441 million or approximately $507.2 million if the underwriters choose to exercise their over-allotment option in full.

The offering is expected to be closed on May 14.

The ADSs will begin trading on May 10, on the New York Stock Exchange under the ticker symbol 'ZK.'