Investors Approve Zeekr's Proposal for Private Ownership

Zeekr Intelligent Technology Holding Ltd., a leading electric vehicle manufacturer (ZK.US), saw a majority approval for a buyout proposal to take the company private from its shareholders.

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2025 September 20 . 3:49 PM

2 min read

Investors Agree to Buyout Proposal for Zeekr Company

Investors Approve Zeekr's Proposal for Private Ownership

Zeekr Accepts Privatization Offer, Shares Surge in Stock Market

Zeekr, a Chinese electric vehicle (EV) company and a subsidiary of Geely Group, one of China's largest private automakers, has accepted a privatization offer. This announcement has led to a significant rise in Zeekr's shares in the stock market, with a 2% increase on Monday and an additional 0.7% gain on Tuesday, closing at $29.88.

The privatization offer, first announced in May 2022, was met with some resistance from shareholders who felt the initial offer price of $25.66 per American depositary share (ADS) was too low. As a result, the offer price was raised to $26.87 per ADS in July 2022. The vote for the privatization received 96.8% approval from ordinary shareholders, indicating a strong support for the move.

The privatization has not been officially finalized yet, but it is expected to reflect Geely's integration approach under the 'One Geely' strategy. This strategy aims to unify the group's various companies, including Zeekr, Geely Auto, Volvo, Lotus Technology, and Ecarx, into a single, cohesive entity.

Zeekr made its debut in the New York Stock Exchange in May 2021, raising $440 million in its initial public offering (IPO). Less than two years later, the company is now set to be privatized, a move that comes amidst the rapid growth of the EV market in China.

The privatization of Zeekr comes at a time when the EV market is booming in China. The country is the world's largest EV market, with sales of EVs and plug-in hybrids reaching 3.8 million units in 2021, a 157.9% year-on-year increase. The privatization of Zeekr is expected to provide the company with the resources and strategic support it needs to compete effectively in this rapidly evolving market.

As the privatization process moves forward, investors will be closely watching Zeekr's performance to see how the company fares under private ownership. The privatization of Zeekr is a significant development in the Chinese EV industry and is likely to have far-reaching implications for the company and the industry as a whole.