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Volvo Cars IPO plan could value Geely-owned group at $30bn

Carmaker hopes to capitalize on premium sales jump, growth of electric Polestar

Chinese-owned Volvo Cars plans to list on Nasdaq Stockholm in a deal that could value it at over $30 billion.   © Reuters

FRANKFURT (Financial Times) -- Chinese-owned Volvo Cars announced its long-awaited plans for an initial public offering on Monday as the Swedish carmaker seeks to capitalize on a rise in premium sales and the growth of its all-electric Polestar brand.

The intention to float on Nasdaq Stockholm could value Volvo Cars above $30 billion, according to people familiar with the matter, with about $10 billion of that figure attributed to the carmaker's 50% stake in Polestar, which is set to go public itself through a special purpose acquisition company at a valuation of $20 billion.

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