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Geely Ponders IPO for Volvo Cars
Zhejiang Geely Holding Group Co. is analyzing a plan to launch an initial public offering later this year for its Volvo Car unit, sources tell Bloomberg News.
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Zhejiang Geely Holding Group Co. is analyzing a plan to launch an initial public offering later this year for its Volvo Car unit, sources tell Bloomberg News.
Geely has hired Citigroup, Goldman Sachs and Morgan Stanley to provide counsel for the move. Other advisors may be added.
Bloomberg’s sources say an IPO would value Volvo between $16 billion and $30 billion. The share sale could occur as soon as this autumn, although no decision has been made to proceed.
Bloomberg reports that Volvo may decide to benchmark itself against certain other publicly traded carmakers, including Geely Automobiles and Tesla.
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