Geely Moves to Privatize Zeekr with Attractive Offer

In a surprising move that has caught the attention of investors worldwide, Geely Automobile Holdings Ltd. has made a non-binding offer to take Zeekr Intelligent Technology Holding Limited private. The proposal, aimed at acquiring all issued and outstanding shares, has sent Zeekr's stock soaring by over 10% in premarket trading.

Details of the Offer

Geely's offer includes a price of $2.57 per share for Zeekr shares and $25.66 per share for American Depositary Shares (ADS). This strategic move underscores Geely's commitment to consolidating its position in the electric vehicle market through Zeekr.

Market Reaction

Following the announcement, Zeekr's shares experienced a significant uptick, reaching $24.87 per share at 4:53 am ET, marking a 10.09% increase. This development highlights the market's positive reception to Geely's privatization plan.