Geely, which owns 65.7 per cent of Zeekr, made a non-binding offer of US$2.566 per share for the remaining 34.3 per cent of the company in cash or shares, the company said in a Hong Kong stock exchange filing on Wednesday. The move would create a unified listing platform, it added.
“It will also facilitate the group’s determination of Zeekr’s future strategic direction to address global market and economic challenges,” the company said. As Zeekr is a global brand targeting the high-end premium EV market, “taking full equity control over Zeekr is strategically significant for the group”, it added.
Investors could elect to receive all cash, or 1.23 new Geely Auto shares for each Zeekr share. The offer equals to US$25.66 for each of Zeekr’s American depositary shares (ADS). Geely intends to fund the purchase with cash, new shares or debt, the filing showed.
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Global carmakers cede world’s largest auto show to Chinese EVs
Global carmakers cede world’s largest auto show to Chinese EVs
