New York-listed shares of ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) closed nearly 35% higher than its initial public offering price on its first day of trading on Friday.
What Happened: ZEEKR, the global electric mobility technology brand of Chinese automaker Geely Automobile Holding (OTC:GELYY), had priced its U.S. initial public offering (IPO) of 21 million American Depositary Shares (ADS) at $21 per share.
The shares of Tesla Inc’s Chinese rival closed at $28.26 on Friday after opening at $26, giving the company a fully diluted valuation of $6.8 billion.
"There are huge demands ...