Geely’s Volvo Cars aims to raise $2.9 billion in IPO

Investing.com | Oct 4, 2021 at 5:51 PM
  • -Geely-owned Volvo Cars plans to raise 25 billion Swedish crowns ($2.9 billion) through an initial public offering (IPO), the Swedish carmaker said on Monday of what would be one of Europe’s biggest listings this year.
  • In 2018 Volvo Cars and Geely, which also owns an 8.2% stake in Sweden’s Volvo Trucks, postponed plans to float shares in the Swedish carmaker, citing trade tensions and a downturn in automotive stocks.
  • It is also aiming for annual sales of 1.2 million cars, up 56% from the 770,000 it sold in the 12 months to June 20 this year.