Automotive Oct 29, 2021 07:03 PM (GMT+8) · EqualOcean
On October 29, Volvo cars was officially listed on the NASDAQ Stockholm exchange. Volvo cars issued Class B ordinary shares at the price of SEK 53 per share under the transaction code "volcar B". At 3 p.m. Beijing time, Li Donghui, CEO of Geely Holding Group and director of Volvo cars, and Hanken Samuelson, CEO of Volvo cars, jointly sounded the opening bell. Volvo IPO project is the second largest IPO in Europe this year and the largest IPO in Sweden since 2000. At present, Volvo has been greatly oversubscribed in the capital market. After this IPO, Geely Holding Group will continue to retain Volvo's position as the largest shareholder. Geely Holding can choose to sell its Volvo shares worth SEK 3 billion (about US $352 million), and Geely Holding's shareholding in Volvo will also decrease from 97.8% to 82%, but it will still be the largest shareholder of Volvo.