Hyperdrive
Volvo Mulling IPO This Year After Abandoning Geely Merger
- Offering could value the Swedish carmaker around $20 billion
- Decade of Chinese ownership has largely been a success story
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Volvo Cars said it’s considering an initial public offering months after calling off earlier plans to merge with Geely Automobile Holdings Ltd., the Chinese manufacturer owned by its parent.
The board of the Swedish carmaker has decided to evaluate a possible listing on the Nasdaq Stockholm stock exchange later this year, according to a statement. Bloomberg News reported in March that owner Zhejiang Geely Holding Group Co. was considering an IPO that could value the business at around $20 billion.