In the News: Chinese EV Maker's US IPO Wins Hearts; Burberry Wins Trademark Case; and China Responds to Battery Overcapacity

Successful U.S. IPO of Chinese EV brand suggests rising investor confidence, but regulatory risks still loom; Burberry wins trademark infringement and unfair competition lawsuit; and China proposes guidelines to it's lithium battery sector amid overcapacity concerns.

The Nasdaq Stock Market Credit: Pavel Ignatov/Adobe Stock

Strong Demand Prompts Upsize of Zeekr IPO

Zeekr, a luxury electric vehicle brand owned by Hong Kong-listed Geely Auto, upped its stock offering in New York in light of strong investor demand.

The Hangzhou-headquartered carmaker raised approximately RMB 3.2 billion ($441 million) from global investors, selling a total of 21 million American Depositary Shares (ADS) in the company at RMB 151 ($21) each—representing a 20% increase in the number of shares originally offered. An ADS is a U.S. dollar-denominated equity share of a foreign company traded on U.S. bourses. The IPO put a value on Zeekr at around RMB 37 billion ($5.1 billion).

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