China EV brand Zeekr puts US IPO on hold

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<span>© Reuters. FILE PHOTO: People walk past a booth of Zeekr, Chinese automaker Geely’s premium electric vehicle (EV) brand, at a shopping mall in Beijing, China November 3, 2023. REUTERS/Tingshu Wang/File Photo</span><br />
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<p>HONG KONG/SYDNEY (Reuters) -Zeekr, Chinese automaker Geely’s premium electric vehicle (EV) brand, has put its U.S. initial public offering (IPO) on hold due to a mismatch in valuation expectations, according to two sources with direct knowledge of the matter.</p>
<p>The decision was made as global financial markets remain volatile, a third source added.</p>
<p>The sources could not be named because they were discussing confidential information. </p>
<p>“The company has made a public filing to the SEC and is proceeding with the preparatory work,” a Zeekr statement said.</p>
<p>It declined to answer Reuters questions about the deal being put on hold due to the company’s valuation target not being met and uncertain market conditions.</p>
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<br /><a href="https://www.investing.com/news/stock-market-news/china-ev-brand-zeekr-puts-us-ipo-on-hold-sources-3246347">Source link </a></p><p>The post <a href="https://forextraderhub.com/china-ev-brand-zeekr-puts-us-ipo-on-hold.html">China EV brand Zeekr puts US IPO on hold</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>