EV Maker Zeekr Tops U.S. IPO Target to Fetch $441 Million

(Bloomberg) — Zeekr Intelligent Technology Holding Ltd., the high-end electric car brand, expanded its initial public offering to raise $441 million in the biggest U.S. listing by a China-based company since 2021.

Zeekr, part of Zhejiang Geely Holding Group Co., sold 21 million American depositary shares (ADSs) — 3.5 million more than planned — Thursday at the top of the marketed range of $18 to $21, according to a statement. With the upsize, the company has a market value of about $5.2 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.