Geely-owned Volvo Cars is to press ahead with an initial public offering later this year, according to the Financial Times. The primary listing will be in Stockholm, with a secondary listing planned in an Asian financial centre – most likely Hong Kong – at a later date.
The FT reports that there are “indications” investors will accept a valuation of USD 30 billion (equivalent to some SEK 270 billion). This would suggest the talks are at an early stage, writes Dagens Industri, reporting that only 15 per cent of Volvo Cars’ shares, to a value of USD 4.5 billion, will be sold at the time of the listing.
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