Zeekr Intelligent Technology Holding Ltd. (ZK), a firm specializing in battery electric vehicle technology, declared on Friday that its initial public offering (IPO) of 21 million American Depositary Shares (ADSs) are priced at $21 each.
Every ADS equates to ten shares of the technology firm. The company has provided underwriters the opportunity to acquire up to an additional 3,150,000 ADSs at the same IPO price.
The expected total gross proceeds from this offering are projected to be approximately $441 million. This amount could potentially rise to around $507.2 million if the underwriters opt to fully exercise their over-allotment option.
The public offering is set to close on May 14. Meanwhile, the ADSs will commence trading on the New York Stock Exchange under the ticker symbol 'ZK' from May 10 onwards.
