HONG KONG, Dec 1 (Reuters Breakingviews) - Electric-car marque Zeekr, controlled by China’s largest private auto group Zhejiang Geely, has hit a roadblock.
It is putting on hold its New York initial public offering because of a mismatch in valuation expectations, Reuters reported on Thursday.
It was hoped the listing would break the ice and encourage a resurgence in Chinese volumes in U.S. capital markets.
Its prospectus was published in November, when global stocks recorded their best performance since 2020.
They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons:
Xi Jinping, Joe Biden, Katrina Hamlin, Julius Baer’s, Una Galani, Thomas Shum
Organizations:
Reuters, Zhejiang, American, Tata Technologies, X, Barclays, Thomson
Locations:
HONG KONG, York, Mumbai, Europe, United States, China