Geely, which owns 65.7 per cent of Zeekr, made a non-binding provide of US$2.566 per share for the remaining 34.3 per cent of the corporate in money or shares, the corporate mentioned in a Hong Kong inventory alternate submitting on Wednesday. The transfer would create a unified itemizing platform, it added.
“It can additionally facilitate the group’s dedication of Zeekr’s future strategic course to deal with international market and financial challenges,” the corporate mentioned. As Zeekr is a worldwide model focusing on the high-end premium EV market, “taking full fairness management over Zeekr is strategically important for the group”, it added.
Buyers may elect to obtain all money, or 1.23 new Geely Auto shares for every Zeekr share. The provide equals to US$25.66 for every of Zeekr’s American depositary shares (ADS). Geely intends to fund the acquisition with money, new shares or debt, the submitting confirmed.
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International carmakers cede world’s largest auto present to Chinese language EVs
International carmakers cede world’s largest auto present to Chinese language EVs