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China EV brand Zeekr puts US IPO on hold -sources

China EV brand Zeekr puts US IPO on hold -sources © Reuters. FILE PHOTO: People walk past a booth of Zeekr, Chinese automaker Geely’s premium electric vehicle (EV) brand, at a shopping mall in Beijing, China November 3, 2023. REUTERS/Tingshu Wang/File Photo

SYDNEY (Reuters) – Chinese electric vehicle brand Zeekr has put its U.S. initial public offering (IPO) on hold due to a mismatch in valuation expectations, according to two sources with direct knowledge of the matter.

The decision was made as global financial markets remain volatile, a third source added.

The sources could not be named because they were discussing confidential information.

Zeekr did not immediately respond to a request for comment.

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