Geely Proposes to Take Zeekr Private, Shares Jump Over 10%

In a surprising turn of events, Zeekr Intelligent Technology Holding Limited witnessed its shares surge more than 10% in premarket trading. This dramatic increase came after its parent company, Geely Automobile Holdings Ltd., made a move to take the company private.

The Offer Details

Geely has submitted a non-binding offer letter to Zeekr, proposing to acquire all issued and outstanding shares. The offer stands at $2.57 per share and $25.66 per American Depositary Share (ADS).

Market Reaction

Following the announcement, Zeekr's shares climbed 10.09% to reach $24.87 per share at 4:53 am ET, signaling strong market confidence in the deal.