Zhejiang Geely Holding Group is considering listing its Volvo Cars unit, Bloomberg reports, adding that the Chinese auto group has sought out Citigroup, Goldman Sachs and Morgan Stanley to advise on an initial public offering (IPO) for the Swedish carmaker this year.
According to people familiar with the matter, Geely and Volvo have discussed valuing the Swedish company between $16 billion to $30 billion in a stock sale, and there are plans for dual listing in Sweden and Hong Kong. Geely Automobile Holdings is listed in Hong Kong.
The report’s sources, who asked not to be identified because the deliberations are confidential, say that Volvo shares could be sold as early as this fall, although no final decisions have been made and plans may change.
Volvo Cars CEO Hakan Samuelsson said in March that a share sale is a possible option for Geely owner Li Shufu to decide. Geely acquired Volvo from Ford in 2010 and has steered the Gothenburg-based company in the right direction in terms of growth and profits.
Geely has been busy making moves in the auto market of late. Last year, Geely acquired a big stake in Proton to be the Malaysian company’s foreign partner, while also taking control of Lotus. More recently, Geely became the largest single shareholder in Daimler, parent company of Mercedes-Benz, when it mopped up almost 10% of the German company.
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Bapak P1 will soon be forcing Geely to sellback P1 via bailout money. No problemo as Bapak is stronk now and will up non local car prices to make P1 greater again. Zombies will still buy and complain ini salahan previous Gov, so its win-win for all. Syabas Bapak! Syabas P1! We luv Tun!
Typical china man business wah
Keep calm all & have some Kool-Aid
So shy that for 30 yrs we did not learn a thing and now beg China and Geely to bail us out
now cabinet is muhibbah….so got lots of brains…dont worry…..ooooh wai
Proton say by 2020 their sales jump from 50k now to 200k.
4x jump in less than 1 yr 5 months more
We will save.
https://paultan.org/2018/02/23/video-proton-is-too-big-to-fail-pm-najib-razak/
Party lost so badly and with so much shame, still trolls come here and spread fake news
We don’t want to hear your negative comments john. We are fed up of cybertroopers from the previous corrupted Government trying to convince us everything was honest and clean
Dah lah kalah teruk, now want to come here and still goreng.
Would gladly give my money to P1 rather than 1mdb.
You got that right. RM42 billion stolen and it was covered up by cybertroopers coming online and lying to us.
Even in PT, our regular cybertrooper will come here and tell us Malaysia has the cheapest car prices in the world and cheapest petrol prices in the world….oh wai!
Hahaha! Getting desperate cuz the paymaster says contract finishes at end of month. How saddings. NOT!
You are talking about yourself??? Ha ha ha
Brilliant. Profits from Proton ops will contribute to Geely bottomline figures.
Geely Boyue belum tahu boleh jual……Perodua SUV is rakyat waiting for
Agree. It’s the best Juara Kampung car.
its ok…i drive G1M & 1M4U plate car in KL…no need pay tax …no one dare to stop mycar
..awfully quiet @paul tan..sorry guys..we’ll be back soon..guess who’s back in town..hihihi
Thanks for the articles guys..keep it up!
Basher services no longer needed so THAT persons employment have been terminated.
Basher services no longer needed.
How come you still around? LOL
ha ha ha…good one. He has no more boss now. His paymasters lost badly and shamefully despite cheating big time.
Now john is freelancer….oh wai
BN brown nosing services also no longer needed, now performing charity is it?
Despite cheating and gerrymendering, his bosses lost big time. So shameful. Kalah teruk teruk pun nak datang sini buat bising
Hahaha! Sori to disappoint u, but I still here for truth and anti bashing.
Volvo, Geely > all
I think the main reason for Geely to list(IPO) Volvo is to unlock the Value of it’s prized possession. Geely owner Li Shufu is a smart businessman to take advantage of Volvo capabilities & business opportunities.