Breakingviews - Geely’s Volvo IPO should go better this time
LONDON, Oct 4 - Zhejiang Geely founder Li Shufu has picked a good time to exploit the mania for battery rides. On Monday Sweden’s Volvo Cars, owned by Zhejiang Geely,that it wants to raise 25 billion Swedish crowns by listing in Stockholm. It comes after an aborted initial public offering in 2018, when investors balked at a mooted $30 billion valuation.
There are sound reasons why Li might get there this time. Firstly, his plans to axe gas guzzlers by 2030 are the most ambitious of traditional automakers. Second, Volvo’s all-electric brand Polestar announced that it would reverse into a blank-cheque vehicle listed in New York at a $20 billion valuation.
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Volvo Cars Announces IPO Plan That Could Value It at $25 BillionThe Swedish auto maker said it would proceed with an initial public offering in Stockholm, in a deal that people familiar with the matter say could value it at upward of $25 billion.
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Chinese-owned Volvo navigating toward IPO on Stockholm stock marketDetails are expected Monday on a deal that could see the Swedish-based car company valued at some $25 billion.
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WSJ News Exclusive | Volvo Cars Is Finalizing Plans for IPO in StockholmVolvo Cars is finalizing plans for an initial public offering and is set to announce details of the listing as early as Monday, in a deal that could value the car maker at upward of $25 billion
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Volvo Cars Announces IPO Plan That Could Value It at $25 BillionThe Swedish auto maker said it would proceed with an initial public offering in Stockholm, in a deal that people familiar with the matter say could value it at upward of $25 billion.
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