|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||67.45 - 67.60|
|52-week range||40.64 - 88.76|
|Beta (5Y monthly)||1.17|
|PE ratio (TTM)||39.22|
|Forward dividend & yield||0.51 (0.75%)|
|Ex-dividend date||27 May 2021|
|1y target est||N/A|
Volvo Cars is hoping investors will buy into its long-term electric vehicle strategy and see past supply chain worries and questions about its shift to battery power as it gears up to make its market debut in Europe's biggest IPO so far this year. Shares in the Swedish carmaker, owned by China's Zhejiang Geely Holding, are due to start trading on Friday, a day later than initially planned after it cut the size of its listing and priced it at the bottom of a previously-announced range, valuing the firm at just over $18 billion. The listing comes at a time when investor appetite for the electric vehicle (EV) sector is robust, with Elon Musk's Tesla seeing its market value cross $1 trillion for the first time this week.
STOCKHOLM (Reuters) -Volvo Cars, owned by Chinese automaker Geely, cut the size of its initial public offering on Monday, setting the price for the listing at 53 crowns per share, the low end of its previously announced range. Volvo had previously said the shares would be priced within a range of 53 crowns ($6.2) to 68 crowns per share, but the market for European IPOs has taken a turn for the worse in recent months as inflation and global supply chain crunches have increased stock market volatility. At the current price, Volvo Cars would be valued at just over $18 billion, down from as much as $23 billion it had expected at the top of the pricing range.
Geely and Volvo Car's joint Lynk & Co brand said on Wednesday it plans to expand its sales network beyond China and Europe to the Gulf region in the fourth quarter of this year. Lynk & Co, which sells and rents cars to customers on monthly subscriptions, will also begin its Asian market expansion "in due course", it said in a statement. It will mainly sell its cars through dealers in the Middle East and Asia, like China, rather than use the subscription model it has established in Europe, said Lin Jie, a Geely Auto senior vice president who also oversees Lynk & Co's sales.