According to Reuters, Chinese electric carmaker Zeekr Intelligent Technology’s initial public offering (IPO) in the United States reached the highest price range on May 9, selling 21 million American depositary shares at $21 each, raising about $441 million.
The IPO brings the fully diluted valuation of polar krypton (including options and restricted stocks) to about $5.
5 billion.
Polar krypton IPO is valued at about $5.
1 billion on an undiluted basis.
Polar Krypton didn’t immediately respond to a request for comment.
Photo: polar Krypton, November 9, 2023, Polar Krypton officially filed its initial public offering prospectus with the Securities and Exchange Commission (SEC).
On February 13, 2023, Polar Krypton announced the completion of round A financing of $750 million, with a post-investment valuation of $13 billion.
This round of financing by Professor Amnon Shashua, founder and CEO of Mobileye, Ningde Times, Yuexiu Industrial Fund, Trading Fund, Quzhou Xinan Intelligence Fund, five ecological partners, will be mainly used for polar krypton product and technology research and development, global business development and user experience enhancement.
Photo: Geely announcement screenshot, recently, documents show that polar krypton plans to issue 17.
5 million American depositary shares (ADS) at a price of $18 to $21 per share, raising up to $367.
5 million.
Against a backdrop of strong demand for polar krypton IPO, a fierce price war in China’s electric car market has undermined the profits of many carmakers, forcing them to seek expansion in overseas markets.
Polar krypton is one of a number of Chinese carmakers that have set their sights on the European market, launching electric models and seeking to compete with traditional European carmakers.
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