|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||21.75 - 22.05|
|52-week range||18.00 - 28.18|
|Beta (5Y monthly)||1.17|
|PE ratio (TTM)||14.32|
|Forward dividend & yield||1.75 (8.32%)|
|Ex-dividend date||30 Jun 2021|
|1y target est||N/A|
China's Geely Holding is in advanced discussions with banks to list its Volvo Cars unit in the coming weeks, three sources told Reuters, in what is expected to be one of Europe's biggest initial public offerings (IPOs) this year. Volvo Cars is aiming for a valuation of about $20 billion in the planned Stockholm listing, the sources said, with one saying the launch was pencilled in for the end of September. Goldman Sachs and SEB are leading the transaction, while other banks including BNP Paribas, Carnegie and HSBC are also involved in the deal, the sources added.
A Swedish court on Wednesday sentenced a 47-year-old man to three years in prison for spying for Russia, which involved selling secret information from truckmaker Scania. The court said it had found the man guilty of acquiring and selling the secret information from the truckmaker to a Russian embassy official. The court acquitted the man of similar espionage charges at Geely-owned carmaker Volvo Cars.
Sweden-based automaker Volvo Car Group warned on Friday that sales volumes in the second half of 2021 could fall year-on-year after it was forced to cut production due to material shortages. The carmaker, owned by China's Geely Holding, said sales fell 10.6% from a year ago in August, despite strong underlying demand, and cautioned the potential decline in volumes in the second half could impact revenue and profit. "But Volvo Cars' outlook for the full year 2021 still remains," it said in a statement, referring to a forecast of sales volume and revenue growth with improved profitability to pre-pandemic levels.