Date: 10 months ago   Category: Industry

Geely has postponed IPO Volvo because of a situation in the market — Rambler News Service


Chinese I have postponed Geely which is a shareholder Swedish Volvo Cars IPO car maker because of a situation in the market, the CEO of Volvo Cars Hokan Samuelson has reported to Financial Times. "It is still very realistic option, but conditions (for the IPO) aren't optimum now" — the top manager has told. He has explained that the final decision on the IPO will be made by the owner of the Geely company and "stable market conditions" are necessary for the IPO. Before Financial Times reported that the IPO of Volvo Cars can take place until the end of 2018. The management of the company planned to reach capitalization following the results of placement in $30 billion. It was planned that the company will place the shares on the exchange of Stockholm, and then in one of Asian financial centers, for example in Hong Kong. According to the edition, placement of 15% of stocks will allow the company to attract $4,5 billion. It will make the IPO the largest in the Swedish market since 2000 when the telecommunication company Telia has gone public.

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