Volvo’s Cut-Price IPO Marks One of Europe’s Biggest in 2021
After cutting size of offering, investors bought into the sale
Volvo will use proceeds to push along electric transition
Hakan Samuelsson, left, and Bjorn Annwall perform a bell-ringing ceremony at the Volvo showroom in Stockholm, on Oct. 28.Photographer: Jonas Ekstromer/AFP/Getty Images
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Volvo Car AB gained in its trading debut in Stockholm after raising 20 billion kronor ($2.3 billion) in an initial public offering, as investors bought into the company’s successful turnaround and promise of an electric future.
