After the merger with Geely and the listing of Hong Kong stocks, after so many rumors, Volvo finally went public, and it was listed in its Swedish hometown.On October 29, Volvo Cars announced that it was officially listed on the Stockholm Stock Exchange in Sweden.It will issue Class B common shares at a price of 53 SEK per share under the trading code “VOLCAR B”.
It is reported that the Volvo listing in Europe is not only the largest domestic IPO in Sweden since 2000, but also the largest IPO in Europe this year.
The Volvo IPO raised about 20 billion Swedish kronor (approximately 15 billion yuan),According to Volvo’s previous announcement, it hopes to raise 25 billion Swedish kronor (about 18.7 billion yuan).
Despite the successful listing in Sweden this time, Geely Holding Group is still its largest shareholder. Geely Holding said that Volvo Cars will continue to benefit from the cooperation within the Geely ecosystem to achieve economies of scale and market synergy.
As for the relevant market value, Volvo finally decided to set the stock price at the lowest value in its planned range, which is 53 SEK per share.Therefore, its overall valuation of US$18 billion before listing is nearly 2 billion lower than the previously estimated US$20 billion.
It is reported that,On March 28, 2010, Geely Holding Group and Ford Motor Group signed a 100% equity purchase agreement for Volvo Cars.At that time, Volvo Car’s annual car sales were only 335,000, with a revenue of 95.7 billion Swedish kronor and an annual loss of 5.19 billion Swedish kronor.
But by 2020, Volvo Cars’ operating income will reach SEK 262.8 billion and operating profit will reach SEK 8.5 billion. It can be said that Geely completely rescued Volvo.