HONG KONGSYDNEY Nov 30 Reuters Zeekr, Chinese automaker Geely39;s premium electric vehicle EV brand, 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.

The company has made a public filing to the SEC and is proceeding with the preparatory work, a Zeekr statement said.

It declined to answer Reuters questions about the deal being put on hold due to the company39;s valuation target not being met and uncertain market conditions.

Reporting by Julie Zhu in Hong Kong and Scott Murdoch in Sydney; Editing by Jamie Freed and Christopher Cushing

Source Reuters