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Chinese Volvo Cars has announced its long-awaited plans to launch its first offering in a matter of days, with some well-known experts saying, as a Swedish car manufacturer, it wants to reap the benefits of higher prices and overall growth – electric polestar type.
The list would appreciate Volvo’s Cars for about $ 25bn, he added, with about $ 10bn of that amount being Volvo’s 50% Polestar, which is supposed to prove itself through a special profit company at a cost of $ 20bn.
This has left the rest of Volvo’s business, which sold more than 700,000 cars in 2019, worth only $ 15bn, a fraction of the cost to rivals BMW and Daimler.
However, the float still supports the return of Geely’s Volvo Cars owners, who bought the sick company $ 1.8bn from Ford in 2010.
The timing of the announcement of the Volvo Cars IPO was first reported by the Wall Street Journal.
Attempts to drive Volvo Vehicles in 2018 were left by Geely for fear that a trade war between the US, Europe and China could hurt corporate minds. At the time, Geely initially believed he could earn $ 30bn for the brand.
Volvo Chief Operating Officer Hakan Samuelsson said there “what is happening right now is not good for giving money to those who will sell the money”.
The steady improvement in the U.S. is likely to give Volvo Vehicles a fixed window to hold the IPO, people who are well aware of the issue.
The company has been doing well in recent months. It recorded its best results in early July despite a global decline in athletic performance that has caused problems for the automotive industry.
Last week, Polestar, who was fired from Volvo Cars four years ago and backed by actor Leonardo DiCaprio, said he would join Gores Guggenheim, Spac backed by billionaire businessman Alec Gores and Guggenheim Capital.
The company, which is competing with Tesla, said it was growing from 14 existing markets to 30, with a particular focus on the Asia-Pacific region.