May 3 (Reuters) - Electric vehicle maker Zeekr

Intelligent Technology Holding said on Friday it was targeting a

valuation of up to $5.13 billion in its U.S. initial public

offering (IPO), the first major floatation by a China-based

company in more than two years.

Zeekr is looking to raise up to $367.5 million by selling

17.5 million American depositary shares (ADSs) priced between

$18 and $21 each.

The IPO will test U.S. investors' appetite for Chinese

companies, given the simmering tensions between the world's two

biggest economies over trade, intellectual property and the

future of Taiwan.

Six IPOs of Chinese companies 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.

A longstanding regulatory dispute between the two

biggest economies in the world, coupled with a crackdown from

Beijing on some of its high-flying startups, had stalled Chinese

companies from seeking U.S. listings.

Beijing has since softened its stance and released a set

of rules last year to revive such listings, after the U.S.

accounting watchdog and China resolved the audit dispute in

December 2022.

Zeekr was last valued at $13 billion after a funding

round in February last year.

Risks it flagged to investors included how the Chinese

government exerted substantial influence over the conduct of its

business and intense competition in China's EV market.

Goldman Sachs and Morgan Stanley are among the underwriters

for the IPO.

(Reporting by Niket Nishant and Arasu Kannagi Basil in

Bengaluru; Editing by Anil D'Silva)