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OFFON

LUCID GROUP, INC.

(LCID)
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Chinese EV startup Iconiq may go public in $4 billion U.S. SPAC deal - Bloomberg

09/03/2021 | 04:17am EDT

(Reuters) - Chinese electric vehicle startup Iconiq Motors is considering going public in the United States through a merger with a blank-check firm that would value the combined group at around $4 billion, Bloomberg reported on Friday, citing people familiar with the matter.

Iconiq could become publicly traded as soon as the end of this year, Bloomberg reported https://bloom.bg/2YinU1r, adding discussions were at an early stage and had no guarantee of success.

Iconiq Motors, which partners with auto supplier Magna Steyr and Microsoft Corp, was founded in 2016 by Chinese entrepreneur Alan Wu and has offices in Tianjin, Shanghai, and Dubai.

The company did not immediately respond to a request for comment.

Several other prominent electric vehicle players have also merged with special purpose acquisition companies (SPACs) to go public, such as Lucid Group, Fisker and Nikola.

(Reporting by Sarah Morland in Gdansk; Editing by Mark Potter)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
LUCID GROUP, INC. 11.36% 26.85 Delayed Quote.168.23%
MICROSOFT CORPORATION -0.33% 308.13 Delayed Quote.38.54%
NIKOLA CORPORATION 3.58% 10.98 Delayed Quote.-28.05%
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Analyst Recommendations on LUCID GROUP, INC.
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Financials (USD)
Sales 2021 76,1 M - -
Net income 2021 -2 744 M - -
Net cash 2021 3 020 M - -
P/E ratio 2021 -15,3x
Yield 2021 -
Capitalization 43 460 M 43 460 M -
EV / Sales 2021 531x
EV / Sales 2022 23,4x
Nbr of Employees 1 861
Free-Float 93,2%
Chart LUCID GROUP, INC.
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Technical analysis trends LUCID GROUP, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 26,85 $
Average target price 23,33 $
Spread / Average Target -13,1%
EPS Revisions
Managers and Directors
Peter Rawlinson Director, Chief Executive & Technology Officer
Sherry House Chief Financial Officer
Andrew N. Liveris Chairman
Eric Bach Chief Engineer & Senior Vice President-Product
Turqi Alnowaiser Independent Non-Executive Director
Sector and Competitors
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