Chinese Company Will Offer Its Volvo Unit Public

The Chinese company will offer its Volvo unit public. Geely Holding is evaluating the initial public offering of its Volvo division.

China-based Geely Holding has reintroduced the initial public offering plan for the Volvo unit, whose value can reach up to $ 20 billion. According to the news in the Bloomberg, Geely is holding talks with consultants to open the shares in Volvo to the public. The company plans to make a public offering on the Stockholm and Amsterdam Stock Exchanges. While automakers were looking for ways to fund the large investments needed to move into electric car production, Geely Holding backed out of its decision to merge the Volvo unit and the Geely Automobile unit in China in February. Instead, Geely had decided to merge the operations of the two companies into a new company. According to the information in the news, the plans are at a very early stage for now, and there is a possibility of possible price changes. Speaking on the subject, the Volvo spokesperson used the following statements: "Volvo will be evaluating many options such as IPO and stock market listing. No decision has been made yet, but the appropriate regulatory disclosures will be made when the time comes."