Geely Completes ZEEKR Privatization Election Process
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Geely Automobile Holdings has completed the privatization election process for ZEEKR, issuing 777,228,611 shares and paying approximately US$701 million in cash. This move is part of Geely's strategy to streamline operations and strengthen market position. Geely plans to secure a US$420 million short-term facility with Bank of China (Hong Kong) Limited to finance the cash consideration. The latest analyst rating for Geely stock is a Buy with a HK$19.00 price target.
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