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Volvo Exec Reveals IPO is an “Option”

Geely holds final say on potential stock offering.

by on Jan.23, 2017

Volvo Chief Executive Hakan Samuelsson said this weekend that an IPO is "an option" for the Swedish automaker.

Volvo Cars, which is now completely owned by a Chinese investor, is considering a stock offering, the company’s top executive told a German-language business magazine.

Hakan Samuelsson, chief executive of Volvo Cars, said a stock market listing is an “option” for the Swedish carmaker, Germany’s Manager Magazin, according to a Reuters dispatch.

Global Auto News!

Samuelsson told the magazine that there are no current plans for such a move and that it would be up to parent company, Geely Holdings, to decide. Geely, which is based in China, owns 100% of Volvo, which it purchased from the Ford Motor Co. in 2010. (more…)