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Volvo Cars shares rise above IPO price in market debut -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Volvo’s logo was displayed at Hanover’s IAA Truck Show on September 22, 2016. REUTERS/Fabian Bimmer

STOCKHOLM – Volvo Cars, the automaker, saw its shares rise by 9% in trading debut Friday morning at Stockholm’s stock exchange.

Geely Holding holds majority ownership of the carmaker. At 0702 GMT shares were traded at 58.00 Swedish Crowns ($6.80). After being valued at 53 crowns during the initial public offer (IPO), they are now trading at 58.00 Swedish Krone.

($1 = 8.52240 Swedish Crowns

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