Chinese electric vehicle maker Zeekr Intelligent Technology has priced its US initial public offering at the top end of its previously indicated range to raise $441 million at a valuation of about $5.2 billion.
The company, the premium brand of Chinese automaker Geely, said it sold 21 million American Depositary Shares (ADSs) at $21 each.
It had earlier planned to sell 17.5 million ADSs priced between $18 and $21.
Underwriters have an option to purchase up to 3.15 million additional ADSs in an over-allotment option which would bring the offering to 24.15 million ADSs for proceeds of $507.2 million.
Zeekr’s ADSs debuted on the New York Stock Exchange under the ticker symbol “ZK” on Friday.
The IPO represents the biggest US listing by a China-based company since ride-hailing company Didi Global’s $4.4 billion IPO in 2021.
The offering is expected to close on May 14.