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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.
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.