auspiciousVolvo Cars intends to conduct an initial public offering and list on the Nasdaq Stockholm Stock Exchange, which will be one of Europe’s largest initial public offerings (IPO) this year.

In 2018, Volvo Cars and Geely postponed their earlier plans to issue shares in the Swedish automaker due to trade tensions and sluggish auto stocks.

“The proposed initial public offering is expected to include Volvo Cars issuing new shares to raise approximately SEK 25 billion in total proceeds, and the possible sale of some shares by Volvo Cars’ major shareholders,” the Swedish car manufacturer said in a statement. on Monday.

It added that the first day of transactions is expected to take place in 2021, and Geely will remain its largest shareholder.

Sources told Reuters last month that China Geely Holdings is in in-depth discussions with banks to list the Swedish company in the next few weeks, with a target valuation of approximately US$20 billion.

Volvo Cars has previously stated that it is considering listing on the Stockholm Stock Exchange in the second half of 2021.

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