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Geely’s Volvo Cars sets price range of 53-68 crowns/share in IPO By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO : Staff member standing in front Volvo XC60/XC90 SUVs during a media event for Auto Shanghai Show in Shanghai, China on April 20, 2021. REUTERS/Aly Song

STOCKHOLM, (Reuters) – Shares of Geely-owned Volvo Cars are expected to be listed at a price range between 53 and 68 Swedish Crowns ($6.12 to $7.86). This will put the company’s initial public offering (IPO) value at 163 billion-200 billion crowns.

Volvo Cars stated earlier in the month that it would raise $2.9B through an IPO, and then list its shares this year on Nasdaq Stockholm’s stock exchange.

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