Volvo Car’s IPO plan is expected to proceed quickly Leave a comment
According to reports, the CEO of Geely Automobile said that Volvo Car’s IPO plan is expected to proceed quickly.
On May 13 , the Volvo Cars Board of Directors decided to assess the possibility of an IPO and is expected to be listed on the Stockholm Stock Exchange later this year. The final decision on whether to list or not depends on the market environment, and there is no guarantee that the listing will take place. The board of directors also decided to extend the CEO’s appointment period to the end of 2022. After the IPO, Geely Holding Group will remain a major shareholder of the company.
In March of this year, news broke that Geely would consider restarting the Volvo Cars division’s US$20 billion IPO.
In response, Geely Holding said: As previously announced on February 24, 2021, Volvo Cars and Geely Automobiles will continue to focus on deepening cooperation in multiple fields while maintaining their independent corporate structures. This approach will also give the two companies the opportunity to explore various options in the capital market to realize shareholder value. Volvo Cars will consider different options, including potential IPO and stock market listing plans.
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