National Business Wire (Dec 18) -- Chinese MRO procurement platform ZKH Group Ltd (ZKH:New York) has successfully gone public in the U.S., despite sustained losses over the past few years.

ZKH formally debuted on the New York Stock Exchange (NYSE) on Friday under the ticker symbol "ZKH," making it the first Chinese MRO (maintenance, repair and operations) stock to go public in the U.S.

The MRO procurement service platform issued 4 million American Depositary Shares (ADSs) at $15.5 per ADS in the IPO, raising $62 million.

Deutsche Bank, China Renaissance and CICC are the joint bookrunners for the IPO. At the offering price, ZKH has a market capitalization of $2.49 billion.

In early March, ZKH filed with the U.S. Securities and Exchange Commission (SEC) to list on the NYSE in the United States.

And in early November, the China Securities Regulatory Commission (CSRC) approved ZKH's offshore listing.