SYDNEY, April 3 Reuters Zeekr, the premium electric vehicle EV brand of Chinese automaker Geely, has restarted stalled plans to raise up to 500 million in a New York initial public offering IPO, according to two sources with direct knowledge of the matter.

The company in November put listing plans to raise about 500 million on hold because of a mismatch in valuation expectations between investors and the company, Reuters reported then citing sources.

The deal was put on ice also due to volatile global financial market conditions at the time, as per the report.

Zeekr is now holding a nondeal roadshow with potential investors ahead of the IPO, the two sources told Reuters.

The sources could not be named discussing confidential information

The company has made a public filing to the SEC and is proceeding with the preparatory work, Zeekr said in a statement Wednesday in response to Reuters questions. The company filed its prospectus in November with U.S. regulators.

There were six IPOs of Chinese companies that raised 46.9 million in the U.S during the first quarter of 2024, down from 428 million at the same time last year, according to Dealogic data. It was the quietest first quarter since the start of 2017, the data showed.

The size of Zeekr39;s potential IPO of up to 500 million is down from the company39;s previously held targets of more than 1 billion.

Zeekr is aiming to deliver 230,000 cars in 2024, which is double its 2023 deliveries, a company spokesperson…