The automaker Volvo is serious about its IPO plans.
According to information from the Reuters news agency, the Chinese parent company Geely Holding plans to place shares in the company on the Stockholm Stock Exchange in the fall. The issue could be announced at the end of September.
It could be one of the biggest IPOs in Europe this year!
According to insiders, Volvo Cars is aiming for a valuation of around $ 20 billion.
Geely Holding bought Volvo from US automaker Ford for $ 1.8 billion around a decade ago. In 2018, the Chinese considered an IPO for Volvo.
The plans were put to the record because of the trade dispute between the US and China and the resulting problems in the global auto industry.
Volvo declined to comment, Geely was initially unavailable for comment. The banks Goldman Sachs and SEB are accompanying the planned IPO together with the institutes BNP Paribas, Carnegie and HSBC.
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