ZEEKR Intelligent Technology Holding Limited (ZEEKR) debuted on the New York Stock Exchange (NYSE) under the ticker symbol ZK on 10 May 2024 (EST), through an initial public offering of American depositary shares (ADSs). ZEEKR offered 21 million ADSs at a price of USD 21 each, raising approximately USD 441 million (excluding over-allotments). This marks the largest U.S. IPO by a Chinese company in the last nearly three years. ZEEKR becomes the fourth Chinese new energy vehicle brand listed in the U.S., setting a record for the fastest IPO of such a brand.
Founded in early 2021, ZEEKR is a premium intelligent pure electric vehicle brand under Zhejiang Geely Holding Group, boasting a product portfolio encompassing models such as ZEEKR 001, ZEEKR 001FR, ZEEKR 009, ZEEKR X, and ZEEKR 007.
The automotive industry is undergoing a disruptive global transformation and constantly evolving driven by new trends such as digitalisation, automotive connectivity, electrification and autonomous driving. This also calls for proactive legal response to keep pace with the evolving landscape. King & Wood Mallesons (KWM) is always committed to working closely with clients in the industry, supporting their growth while enhancing its understanding of the industry’s innovative technologies and business models. With a comprehensive understanding of legal, regulatory, and industry-specific dimensions, KWM designs sophisticated legal frameworks and leverages precedents from past cases. Starting from clients' actual situations, KWM develops tailored and efficient solutions to address the complex challenges faced by clients and the industry.
In this deal, KWM acted as the PRC counsel for the issuer, fully involved in all aspects including business restructuring, private equity financing, employee stock incentives, and IPO. The delivery of professional legal advice and effective solutions to ZEEKR earned full recognition and high praise from the client and other intermediary teams.
The KWM team was led by partners Gong Mulong, Pan Yujia, Wang Jianxue, Feng Xia, Chen Junyu and Hu Jing, with support from Wang Chao, Zheng Zhaojiang, Cai Yingxuan, Zhang Yali, Xu Yang and Lin Shanyu. KWM Hong Kong partner Huang Wen advised on ZEEKR’s private equity financing. KWM Internal Review partners Peng Jin, Ma Tianning and Meng Zi provided guidance, and partner Wu Han offered support on data compliance.
