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-Electric vehicle maker Zeekr Intelligent Technology Holding said on Friday it was targeting a valuation of up to $5.13 billion in its U.S. initial public offering , the first major floatation of a China-based company in more than two years.
Six IPOs of Chinese companies raised $46.9 million in the U.S. during the first quarter of 2024, down from $428 million at the same time last year, according to Dealogic data. Beijing has since softened its stance and released a set of rules last year to revive such listings, after the U.S. accounting watchdog and China resolved the audit dispute in December 2022.Risks it flagged to investors included how the Chinese government exerted substantial influence over the conduct of its business and intense competition in China's EV market.
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