January 20, 2017 / 1:03 PM / in 10 months

Volvo Cars CEO says IPO is an option: manager magazin

FRANKFURT (Reuters) - Hakan Samuelsson, Chief Executive of Volvo Cars, said a stock market listing is an option for the Swedish carmaker, Germany’s Manager Magazin said on Friday.

Hakan Samuelsson, president and CEO of Volvo Car Group, introduces the Volvo XC90T8 Inscription autonomous car during the North American International Auto Show in Detroit, Michigan, U.S., January 9, 2017. REUTERS/Rebecca Cook

“A stock market listing is an option,” Samuelsson told the magazine, adding that there are no current plans for such a move and that it would be up to parent company Geely Holding [GEELY.UL] to decide.

Last month, Volvo raised 5 billion Swedish crowns ($532 million) from a group of Swedish institutional investors by selling newly-issued preference shares that would have “an immaterial dilutive effect” on Geely’s 100 percent ownership.

“Today’s move is another step toward Volvo Cars’ long expressed ambition to act as a listed company,” Volvo said in a statement in December.

Reporting by Edward Taylor; Editing by Christoph Steitz

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