Volvo Cars has raised five billion Swedish kronor (RM2,391,967,500) from the sale of newly-issued preference shares to a group of investors, the company announced. The investors include two Swedish pension funds, AMF and the First Swedish National Pension Fund (AP1), as well as Folksam, a Swedish insurance company.

According to an official statement released by the Swedish automaker, the move was conducted to further diversify its long term funding sources, and represents an expressed ambition to become a listed company, although it has yet not given any immediate plans to do so.

Barring any detailed terms of the sale, the statement also noted that the the transaction will have an “immaterial dilutive effect” on the current 100% ownership of Volvo Cars by Zhejiang Geely Holdings.

The share sale comes after Volvo’s return to international bond markets this year, with its first corporate bond in May raising 500 million euros (RM2,325,900,000), followed by its first bond issue to Swedish institutional investors last month for a further three billion kronor (RM1,434,765,622).

Volvo’s operating profit for the first nine months of 2016 stood at 7.7 billion kronor (RM3,683,078,630), which is significantly more what it earned in the whole of 2015 – 6.6 billion kronor (RM3,156,924,540). This resurgence after being acquired by Geely in 2010, is backed by a renewal of its product range, plus new powertrain, chassis, safety and connectivity technologies.

Looking forward, the automaker aims to reposition its brand to compete with global premium rivals, revive its operations in the US and develop its global manufacturing footprint, grow further in China and double its market share in Europe.

New products will be integral to those plans, with the next-generation XC60 being among the models set to be introduced. The smaller brother to the XC90 is expect to ride on the company’s Scalable Product Architecture (SPA), and be fitted with the latest range of Drive-E engines, along with a possible plug-in hybrid powertrain.

Also in the pipeline is the debut of Volvo’s Compact Modular Architecture (CMA) that will underpin smaller models like the all-new XC40. To go along with the platform, the company has also revealed a new 1.5 litre, three-cylinder T5 Twin Engine and seven-speed DCT powertrain for use in the SUV.