Sources say Polar Krypton plans to publicly submit its IPO application to the United States this week.

CTOnews.com, Nov. 9 (Reuters)-Polar Krypton, a high-end electric car brand owned by Geely, will release some details of its plans in New York's IPO (initial public offering) this week, according to two sources with "direct knowledge".

It is reported that polar krypton will issue a prospectus "soon" and its shares are likely to start trading on the stock exchange within weeks of the announcement. One of the sources revealed that the underwriters of polar krypton will be led by Goldman Sachs and Morgan Stanley.

However, Polar Krypton, Morgan Stanley and Goldman Sachs all declined to comment to Reuters.

CTOnews.com previously reported that Reuters quoted three people familiar with the matter in December last year as saying that Polar Krypton had applied for IPO in the United States and planned to raise about $1 billion. Polar Krypton is seeking a valuation of more than $10 billion, making it the first large Chinese company to list in the US in more than a year and a half, according to two sources.

According to the October delivery data released by Polar Krypton earlier this month, 13077 vehicles were delivered that month, compared with the all-time high of Dading mass entrepreneurship and innovation. At present, polar krypton cars have a total of polar krypton 001, polar krypton 009, polar krypton X and other products are on sale, and the pure electric car polar krypton 007 will be released at Guangzhou Auto Show.