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General info on Volvo Cars
About the company
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NameVolvo Cars
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IndustryAutomotive
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Employees10,001+
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Founding year1927
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Ticker-
Filing Information
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IPO file date18/10/2021
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No. of shares-
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Price53 SEK ($6.15)
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ExchangeNasdaq Stockholm Stock Exchange
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BookrunnersMorgan Stanley, BNP Paribas, HSBC, JPMorgan Chase, Nordea Bank
IPO Details
About Volvo Cars
Volvo is regarded as one of the most innovative carmakers in the world. It became famous after introducing the first side-airbag in 1994 to the blind-spot monitor.
In 2010, it became a subsidiary of Geely Holding Group. Volvo Cars’ largest markets are China, the US, Sweden, the United Kingdom, and Germany. Reportedly, Geely would remain the largest shareholder after the listing.
The company plans to go all-electric by 2030.
IPO figures
Volvo Cars will go public on the Nasdaq Stockholm stock exchange, targeting a market value of up to 23.1 billion. It is considered to be Europe’s biggest listings of 2021. The IPO would be priced at 53 SEK per share, and it plans to raise $2.9 billion through its initial public offering.
The announcement marks a milestone for Volvo, which has been struggling until Geely bought it from Ford in 2010 for $1.8 billion.
Valuation
After the IPO, Volvo Cars is expected to be worth up to 200 billion SEK ($23.1 billion).
Volvo Cars: what you need to know
- sold more than 770,000 vehicles in the 12 months to the end of June
- is targeting an operating margin of between 8% and 10% by 2025.
- pledges to sell only electric vehicles by 2030
Sources: ft.com, reuters.com, techcrunch.com, investor.volvocars.com
Summary
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Ticker-
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Price53 SEK ($6.15)
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ExchangeNasdaq Stockholm Stock Exchange
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BookrunnersMorgan Stanley, BNP Paribas, HSBC, JPMorgan Chase, Nordea Bank
Key elements
Find out the most essential numbers for Volvo Cars IPO
January-September 2021 operating profit
16.6 BLN SEK
Vehicles sold between June 2020 – June 2021
770.000
Past IPOs
Browse details of other companies that already went public
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