Source: Wall Street News
According to media reports, Krypton is studying the possibility of a US IPO in February next year. The news about Kyokrypton's IPO has been full of ups and downs recently. Last month, the company publicly submitted an IPO prospectus to the SEC. However, at the end of the month, a number of people close to Krypton pointed out that Krypton decided to suspend its IPO due to weak market sentiment and mismatched valuation expectations.
According to media reports, Geely's high-end electric vehicle brand Jikkrypton Intelligent Technology Holdings Co., Ltd. is studying the possibility of an initial public offering (IPO) in the US in February next year. People familiar with the matter said that after measuring investor demand last month, Jikkrypton has been searching for a suitable listing window. Krypton is currently considering a possible IPO around the Spring Festival, that is, around February 10. It is betting that investor interest will increase at that time.
The IPO is still under review, and the details of the IPO, including the timeline, may still change.
A Krypton representative responded that the company has submitted IPO documents to the US Securities and Exchange Commission (SEC) and preparations are underway. However, the representative did not give any specific timeline for the IPO.
The news about the Krypton IPO has been full of ups and downs recently. Last month, Krypton publicly submitted an IPO prospectus to the SEC and plans to go public on the NYSE. On November 24, Jikkrypton updated F-1 documents to the SEC. However, on November 30, a number of people close to Krypton pointed out that due to weak market sentiment and mismatched valuation expectations, Jikkrypton decided to suspend its IPO plan.
The Wall Street News website anticipates that as early as the end of August, Jikkrypton began contacts with some investment institutions. At the time, Jikkrypton planned to raise 1 billion US dollars in IPO and hoped to obtain a valuation of 18 billion US dollars. However, according to feedback from industry investors at the time, this valuation was higher than expected. Industry insiders believe that the valuation of extreme krypton is difficult to reach 13 billion US dollars, and the final amount raised may be 500 million US dollars.
Li Shufu always wanted to be a pure electric brand with a high-end positioning. Within Geely, Extreme Krypton is the fourth test sample of new energy. The first three are Polestar (Polestar), Geometric Auto, and Lynk & Co., Ltd. Extreme Krypton is currently the most popular one.
Wall Street News learned on December 1 that extreme krypton delivered 13,104 units in November, an increase of 19% over the previous year. In January-November, Jikkrypton delivered a total of 105,000 new vehicles. According to information, in terms of overseas travel, the European market for extreme krypton is expected to increase to 6 countries in 2024, enter 8 countries in 2025, and is expected to cover most of the core countries in Western Europe in 2026.