Deloitte China assists listing of ZEEKR on NYSE

Deloitte China assisted the listing of ZEEKR Intelligent Technology Holding (ZEEKR, stock ticker: ZK) on the New York Stock Exchange (NYSE) on 10 May 2024, US time, setting the record for the shortest time between the establishment of a Chinese new electronic vehicle (NEV) company and its completion of a US initial public offering (IPO), and marking the largest US IPO of a China concept stock by funds raised for nearly the past three years. ZEEKR is a spin-off listing from Hong Kong-listed Geely Automobile (stock code: 00175.HK).

ZEEKR offered 21,000,000 American Depository Shares (ADS), each representing 10 of its ordinary shares. The offer price is USD21 per ADS, taking the total funds raised in this offering to USD441 million. The company's market cap reached nearly USD7 billion by the end of its first trading day, with 34.57% jump from its offer price.

(From left) Shengyue Gui, Director of ZEEKR, Conghui An, Director and Chief Executive Officer of ZEEKR and Donghui Li, Director of ZEEKR, attend ZEEKR’s listing ceremony in New York Stock Exchange

(From left) Jing Yuan, Chief Financial Officer of ZEEKR; Shengyue Gui, Director of ZEEKR; Conghui An, Director and Chief Executive Officer of ZEEKR and Donghui Li, Director of ZEEKR, attend ZEEKR’s listing ceremony in New York Stock Exchange

About the client

ZEEKR is a battery electric vehicle (BEV) non-wholly owned subsidiary established in 2021 by Zhejiang Geely Holding Group (Geely Group), a Fortune Global 500™ company. It focuses on innovation in BEV architecture, hardware, software and the application of new technologies. Its current product portfolio includes the ZEEKR 001, ZEEKR 001 FR, ZEEKR 009, ZEEKR X and an upscale sedan.

Source: ZEEKR Intelligent Technology Holding Limited IPO prospectus filed on 9 May 2024

About the IPO engagement

Deloitte’s outstanding services to Geely Group over the past 15 years were the wining factor in this IPO. Over the past three years, we have established a multi-disciplinary engagement team with members from the Global Capital Market Group, Audit & Assurance (A&A), Valuation Review (VR), Tax Review and Risk Advisory (RA) teams. We have also led our overseas member firms in the provision of world-class, one stop services to the client.

Deloitte China served ZEEKR throughout its IPO journey with a high-quality philosophy of “diligence and excellence”. The engagement team supported ZEEKR by providing consistent, professional capital market audit services at each stage of listing filing work. It also worked collaboratively with intermediaries to help the client list on NYSE.

Deloitte China congratulates ZEEKR on its successful listing on NYSE. We will continue to provide high quality professional services to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.