Leidi.com Lotte October 31
Geely Automobile Holding Co., Ltd. recently announced that the company plans to split ZEEKR Intelligent Technology Holding Limited (" Zekr ") and list it independently.
Jikr is a non-who owned subsidiary of Geely Auto . It is mainly engaged in the research and development and sales of electric vehicles under the Zekr brand, new energy vehicle batteries and other components, and provides related services. The Stock Exchange has confirmed that the company can conduct a proposed split.
In August 2021, Zekr Intelligent Technology entered into a stock purchase agreement with five investors, including Intel Investment Company , CATL , Hongshang Group, B Station, and Boyu Investment.
Accordingly, the investors agreed to subscribe and purchase from Zekr Smart Technology, and Zekr Smart Technology agreed to issue and allocate a total of 126,470,585 Pre-A series preferred shares to these investors, with a total agent of US$500 million. All investors are independent third parties.
126,470,585 Pre-A series preferred shares will account for approximately 5.6% of the expanded issued share capital of Zekr Intelligent Technology. Based on this calculation, the valuation of Zekr Intelligent reached US$8.928 billion. After the completion of the Pre-A series preferred shares proposed under the issuance and issuance of
under the share purchase agreement, Geely Auto’s equity in Zekr Smart Technology will be reduced from 51.0% to about 48%.
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