Geely Automobile Holdings (HK:0175) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Geely Automobile Holdings is set to increase its stake in ZEEKR from 51.5% to 62.8% by acquiring 11.3% of ZEEKR’s shares from GIHK for $806.1 million. This strategic move highlights Geely’s intent to strengthen its position in the electric vehicle market. Investors should note the transaction is classified as a connected transaction under Hong Kong’s listing rules, though it does not require independent shareholder approval.
For further insights into HK:0175 stock, check out TipRanks’ Stock Analysis page.