Volvo listing delayed: FT

Source:Agencies Published: 2018/9/10 21:33:40

Chinese company Geely is delaying the listing of Volvo Cars due to valuation concerns amid a global trade war, the Financial Times reported.

Geely believed it had the backing for a flotation valuing Volvo Cars at $30 billion, but it was worried that investors, many of whom were expected to be Swedish pension funds, would see the stock slip after the float, the report said.

Volvo Cars Chief Executive Hakan Samuelsson told the newspaper that "conditions right now are not optimal to give certain upside for the investors" and "stable market conditions" were needed for a listing.

Geely and Volvo Cars were not immediately available for comment as of press time.

Posted in: COMPANIES

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