Geely's Volvo Cars says has no immediate plans for IPO

Reuters

14 December 2016 at 2:15 am

Li Shufu, (L) founder and chairman of Zhejiang Geely Holding Group and Hakan Samuelsson, President and Chief Executive Officer of Volvo attend Volvo's S90 news conference in Shanghai, China November 2, 2016. REUTERS/Aly Song

STOCKHOLM (Reuters) - Geely-owned Volvo Car Group said on Wednesday it had no immediate plans for an initial public offering following a media report the carmaker was considering a listing next year.

Swedish business daily Dagens Industri reported, citing unnamed sources, that Volvo Cars, owned by China's Zhejiang Geely Holding Group Co., could decide this year on whether to go public in 2017.

"We have no immediate plans for an IPO. This is a question for our owner," a Volvo Cars spokesman said in an emailed statement to Reuters.

(Reporting by Niklas Pollard)

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