Geely’s Volvo Cars sets price range of 53-68 crowns/share in IPO
© Reuters. FILE PHOTO: A staff member stands in front of Volvo XC60 and XC90 SUVs displayed at its booth during a media day for the Auto Shanghai show in Shanghai, China April 20, 2021. REUTERS/Aly Song
STOCKHOLM (Reuters) – Shares in Geely-owned Volvo Cars will be priced within a range of 53 to 68 Swedish crowns ($6.12 to $7.86), valuing the company at 163 billion to 200 billion crowns in its initial public offering (IPO), the carmaker said on Monday.
Volvo Cars said earlier this month it planned to raise $2.9 billion through an IPO and list its shares on the Nasdaq Stockholm stock exchange this year.
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