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GEELY AUTO Proposes to Privatize ZEEKR at Premium of 13.6%
Recommend 14 Positive 22 Negative 13 |
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GEELY AUTO (00175.HK) announced that the Company submitted the non-binding proposal (NBP) to ZEEKR (ZK.US). The Company proposed to value ZEEKR at US$2.566 per ZEEKR Share or US$25.66 per ADS. The proposed purchase price represents a premium of approximately 13.6% to the closing trading price of the ADSs on the NYSE on the Last Trading Day and a premium of 20% to the volume-weighted average price of the ADSs on the NYSE during the last 30-trading day period ending on and including the Last Trading Day. GEELY AUTO remarked that to drive deep integration and efficient collaboration of internal resources, eliminate redundant investments, reduce costs, enhance corporate competitiveness, and create long-term value, the Company submitted today (7th) the NBP to ZEEKR, pursuant to which, subject to further negotiations and the execution of definitive agreements, the Company preliminarily indicated its interest in pursuing the Proposed Privatisation by acquiring all of the issued and outstanding ZEEKR Shares and ADSs, other than those beneficially owned by the Group. So far, the Group holds approximately 65.7% of the total issued and outstanding share capital of ZEEKR. Should the Proposed Privatisation materialise and proceed to completion, ZEEKR would become a wholly-owned subsidiary of the Company, be privatised, and be delisted from the NYSE. AAStocks Financial News |
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