Car manufacturer Volvo goes public in its home country of Sweden. That has the company announced on Monday. Insiders think that the stock market value can be at least 21.5 billion euros, reports The Wall Street Journal
Volvo has been toying with the idea of an IPO since 2018 and rumors circulated last weekend that the car manufacturer was finalizing preparations. With the share return, Volvo hopes to collect 2.46 billion euros. With the current target market value, the company can become larger than the French Renault, which has a market value of 8.6 billion euros. That’s remarkable, given that the automaker sells only a fraction of the number of cars Renault trades each year.
Electric cars
Volvo saw its sales increase by no less than 41 percent in the first half of 2021 compared to the same period a year earlier. Since 2019, the company has stopped producing vehicles that run on fossil fuels. Every new Volvo that rolls off the line since then is fully electric or a hybrid model. The hope is that this focus on electric vehicles, which has been a global growth market for many years, will arouse the interest of potential investors.
Volvo is originally a Swedish car manufacturer, but since 2010 it has been owned by the Chinese Zhejiang Geely Holding. That year, Ford sold the company for 15.5 billion euros, because it had run into financial difficulties due to the global economic crisis. Under Geely, Volvo’s reputation improved and the company returned to profitability.
Car manufacturer Volvo goes public in its home country of Sweden. That has the company announced on Monday. Insiders think that the stock market value can be at least 21.5 billion euros, reports The Wall Street Journal
Volvo has been toying with the idea of an IPO since 2018 and rumors circulated last weekend that the car manufacturer was finalizing preparations. With the share return, Volvo hopes to collect 2.46 billion euros. With the current target market value, the company can become larger than the French Renault, which has a market value of 8.6 billion euros. That’s remarkable, given that the automaker sells only a fraction of the number of cars Renault trades each year.
Electric cars
Volvo saw its sales increase by no less than 41 percent in the first half of 2021 compared to the same period a year earlier. Since 2019, the company has stopped producing vehicles that run on fossil fuels. Every new Volvo that rolls off the line since then is fully electric or a hybrid model. The hope is that this focus on electric vehicles, which has been a global growth market for many years, will arouse the interest of potential investors.
Volvo is originally a Swedish car manufacturer, but since 2010 it has been owned by the Chinese Zhejiang Geely Holding. That year, Ford sold the company for 15.5 billion euros, because it had run into financial difficulties due to the global economic crisis. Under Geely, Volvo’s reputation improved and the company returned to profitability.
Car manufacturer Volvo goes public in its home country of Sweden. That has the company announced on Monday. Insiders think that the stock market value can be at least 21.5 billion euros, reports The Wall Street Journal
Volvo has been toying with the idea of an IPO since 2018 and rumors circulated last weekend that the car manufacturer was finalizing preparations. With the share return, Volvo hopes to collect 2.46 billion euros. With the current target market value, the company can become larger than the French Renault, which has a market value of 8.6 billion euros. That’s remarkable, given that the automaker sells only a fraction of the number of cars Renault trades each year.
Electric cars
Volvo saw its sales increase by no less than 41 percent in the first half of 2021 compared to the same period a year earlier. Since 2019, the company has stopped producing vehicles that run on fossil fuels. Every new Volvo that rolls off the line since then is fully electric or a hybrid model. The hope is that this focus on electric vehicles, which has been a global growth market for many years, will arouse the interest of potential investors.
Volvo is originally a Swedish car manufacturer, but since 2010 it has been owned by the Chinese Zhejiang Geely Holding. That year, Ford sold the company for 15.5 billion euros, because it had run into financial difficulties due to the global economic crisis. Under Geely, Volvo’s reputation improved and the company returned to profitability.
Car manufacturer Volvo goes public in its home country of Sweden. That has the company announced on Monday. Insiders think that the stock market value can be at least 21.5 billion euros, reports The Wall Street Journal
Volvo has been toying with the idea of an IPO since 2018 and rumors circulated last weekend that the car manufacturer was finalizing preparations. With the share return, Volvo hopes to collect 2.46 billion euros. With the current target market value, the company can become larger than the French Renault, which has a market value of 8.6 billion euros. That’s remarkable, given that the automaker sells only a fraction of the number of cars Renault trades each year.
Electric cars
Volvo saw its sales increase by no less than 41 percent in the first half of 2021 compared to the same period a year earlier. Since 2019, the company has stopped producing vehicles that run on fossil fuels. Every new Volvo that rolls off the line since then is fully electric or a hybrid model. The hope is that this focus on electric vehicles, which has been a global growth market for many years, will arouse the interest of potential investors.
Volvo is originally a Swedish car manufacturer, but since 2010 it has been owned by the Chinese Zhejiang Geely Holding. That year, Ford sold the company for 15.5 billion euros, because it had run into financial difficulties due to the global economic crisis. Under Geely, Volvo’s reputation improved and the company returned to profitability.