HK-listed Geely Auto climbs to 7-week high on plans to take Zeekr private

** Shares of Geely Automobile 175 rise 2.9% to HK$18.76, their highest since May 26, and on course for a third straight session of gains

** Geely Automobile will take its premium electric vehicle unit Zeekr ZK private at a $6.83 billion valuation, as the Chinese automaker streamlines its business and sharpens its competitive edge

** Geely already owns about 62.8% of Zeekr and will acquire the remaining stake it does not already own for $26.87 per American depositary share

** Geely, which initially offered $2.2 billion in May, boosts buyout to around $2.4 billion

** Zeekr shares rose 2.4% on Tuesday

** The Hang Seng Automobile Index HHSAMI adds 0.6% while the Hang Seng Index HSI rises 1.01%

** YTD, Geely stock up 25.4%