On the stock exchange in Stockholm: Logo of the car manufacturer Volvo (archive picture).
The company announced on Monday. The Chinese group wants to remain the largest shareholder. It should be one of the biggest IPOs in Europe this year. According to insiders, Volvo Cars is aiming for a valuation of the equivalent of around 17 billion euros.
Geely Holding bought Volvo around a decade ago from the US automaker Ford for 1.8 billion dollars. In 2018, the Chinese considered an IPO for Volvo. However, the plans were put aside because of the trade dispute between the USA and China and the resulting problems in the global auto industry.
(SDA)
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