Geely Selects Financial Institutions Ahead Of Potential Volvo IPO

Geely has reportedly selected Citigroup, Goldman Sachs, and Morgan Stanley to advise on an initial public offering (IPO) for Volvo Cars.

Bloomberg reports that the Swedish automaker and its Chinese owner expect the company to be valued between $16 billion and $30 billion in a stock sale.

Those with knowledge of the matter claim that, this month, meetings have been held in both Sweden and Hong Kong in what could prove to be a dual listing in both markets.

Representatives from Geely, Citigroup, Goldman Sachs, and Morgan Stanley have all declined to comment. No final decision has been made but an IPO could take place as early as this fall. Geely is still working on the bank line-up and may choose to add further advisers.

In March, Volvo chief executive Hakan Samuelsson said the decision of a share sale was up to the billionaire owner of Geely, Li Shufu.

Geely owns 99 per cent of Volvo. The remaining 1 per cent is owned by a number of Swedish institutional investors through a distinct class of shares.

If Volvo is to be listed publically, it could help it raise money to fund the Swedish automaker’s ambitious electrification plans. Last month, Volvo announced that it wants 50 per cent of sales to come from electric vehicles by 2025.

more photos...
  • ErnieB

    Will we ever see a Volvo supercar? The safest supercar in the world? The one that No matter how fast or bad you crash you will walk out alive?

    • Status

      The closest we have is Polestar.

    • LWOAP

      No. That’s what Polestar is for. Well, that’s why they are trying to do anyway but it’s going to set you back 155k I think.

  • Tostik

    I’m in.

2019 Mercedes-Benz CLA: Mini CLS Or Sleeker Alternative To The A-Class?

The new CLA is a good daily driver and a quality item, so if you don’t mind the cramped back seat, go for it.

It’ll Cost You $26k To Make Your Vantage Look Like This, Get An Extra 90 Horses

While the price does seem steep, bear in mind that this is a $150k Aston, and the list consists of quite a few upgrades.

Suzuki Jimny Shows Its Off-Roading Prowess Against A Triumph Scrambler

With a mere 101 HP, power is not the Jimny’s strong suit. It’s off-road capabilities, though, are, but do they suffice against the Triumph?.

CARB Filing Reveals Rolls-Royce Cullinan Will Get Black Badge Variant

Judging by other Rolls models that have received the same treatment, we know what to expect; the only unknown is whether it’ll get a power bump or not.

Alpina Has No Interest Tuning BMW’s Front-Wheel Drive Models

Alpina says it would be hard to make money from pumped-up versions of Munich’s latest FWD crop of cars.

This Ferrari 308 GTB Is An Enthusiast’s Dream Come True

It might not be the best, most reliable or fastest Ferrari, but for one person who was in love with it for a long time, it’s bliss.

Next-Generation Fiat Panda To Gain All-Electric Variant In 2023

The Panda EV will closely resemble the Centoventi concept and will adopt its swappable and upgradeable battery pack.

Mercedes-AMG G63 Proclaimed The Most Desirable Big SUV In The World

It’s still a great off-roader, has a modern, luxurious cabin, lots of power and can even tackle a track, so what’s not to love?.

If Toyota Were To Revive The MR2, It’d Rather Do It With Porsche

How does a mid-engine platform for a new MR2 and next-gen Boxster sound?.

Electrify America And EVgo Join Forces To Simplify U.S. Charging Network

EV owners will be able to use one account to use both companies’ charging stations throughout the country.