ZEEKR completes US$441 Million Initial Public Offering

MAQS law firm has acted as Swedish legal counsel in connection with ZEEKR Intelligent Technology Holding Limited’s (ZEEKR) initial public offering and listing on the New York Stock Exchange on May 10, 2024.

ZEEKR issued 21 million American Depositary Shares (ADS) at USD 21 per share on the New York Stock Exchange, raising a total of USD 441 million. The transaction marks the largest Chinese stock offering in the US in the past three years.

Goldman Sachs (Asia) L.L.C., Morgan Stanley Asia Limited, Merrill Lynch (Asia Pacific) Limited and China International Capital Corporation Hong Kong Securities Limited acted as representatives of the underwriters.

ZEEKR is a fast-growing battery electric vehicle (BEV) technology company. Through developing and offering next-generation premium BEVs and technology-driven solutions, ZEEKR aspires to lead the electrification, intelligentization, and innovation of the automobile industry. ZEEKR has three Swedish subsidiaries: ZEEKR Technology (formerly CEVT), ZEEKR Sweden, and ZEEKR Design.

Funds raised from the listing will be used to further develop new advanced technologies and products for ZEEKR, as well as support the expansion of its sales, marketing, and charging network around the world.

MAQS’ team primarily consisted of Anton Olsson, co-head of MAQS Automotive team, Helena Björling, Marcus Resvik, and Joel Lundgren.

MAQS is one of Sweden’s largest full-service business law firms, comprising 180 legal professionals. The firm is at the forefront of the automotive sector and has Sweden’s largest team of lawyers dedicated to the industry.