China’s Zeekr seeks up to $5.13 billion valuation in US IPO

News Snapshot:

(Reuters) -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 (IPO), the first major floatation by a China-based company in more than two years. Zeekr is looking to raise up to $367.5 million by selling 17.5 million American depositary shares (ADSs) priced between $18 and $21 each. The IPO will test U.S. investors' appetite for Chinese companies, given the simmering tensions between the world's two biggest economies over trade, intellectual property and the future of Taiwan. Six IPOs of Chinese companies raised $46.9...