Volvo Cars to review options including IPO, Geely says

31 March 2021 - 15:07 By Reuters
Geely's Hong Kong-listed unit Geely Automobile and Volvo Cars scrapped their full merger plan in February.
Geely's Hong Kong-listed unit Geely Automobile and Volvo Cars scrapped their full merger plan in February.
Image: ©Gonewiththewind/123RF.COM

China's Zhejiang Geely Holding Group said on Wednesday its Volvo Cars would explore capital market options including a potential initial public offering (IPO) and stock market listing.

Geely bought Volvo Cars from Ford Motor Co in 2010. Geely's Hong Kong-listed unit Geely Automobile and Volvo Cars scrapped their full merger plan in February.

Geely's revived consideration of an IPO for Volvo Cars could value the business at around $20bn, Bloomberg reported on Wednesday citing people familiar with the matter.

A Volvo Cars spokesperson said the firm would not comment on speculation.


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