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I bought in the COVID dip and have nice appreciation. Was thinking of selling but now planning to hold.
“We have been restrictive with our order slotting due to our already large order books and long delivery times,” Volvo AB President and CEO Martin Lundstedt said. Backlogs of unbuilt equipment reach into the second half of 2022 for trucks and some other segments.
Finishing incomplete vehicles as microchips and other missing components become available is part of running the business now, Volvo Group Chief Financial Officer Jan Ytterberg said."
Strong demand but materials/components shortage is not a crisis, but a problem which will be solved and sales will be boosted.
Volvo's news are also great news for Core Molding, ticker CMT. CMT's major customer is Volvo and other three companies only. CMT, an overlooked company, has turned to profits but it still trades near its lows...
Low volume and liquidly may be an issue for some traders but stock looks sound to hold for investors.
*want growth pic?...
POLESTAR
MON, OCT 25, 2021 08:20 CET
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Press release 25 October 2021
Volvo Cars today announces the decision to amend the terms of its planned IPO on Nasdaq Stockholm. The update below follows the publication of Volvo Cars’ prospectus on 18 October 2021 and the announcement of Geely Sweden’s share conversion request on 22 October 2021.
The Board of Directors of Volvo Cars has today resolved to set a fixed price of SEK 53 per share (within the previously communicated price range) and to reduce the size of the new issue of common shares of class B in the offering to raise gross proceeds of approximately SEK 20 billion. In addition, the main owner, Geely Sweden Holdings AB, has resolved not to exercise the upsize option.
The amended offering will result in a free float of 16.0 per cent to 17.9 per cent (depending on exercise of the overallotment option), and will raise sufficient proceeds to fund Volvo Cars’ fastest transformer strategy and achieve its mid-decade ambitions.
Volvo Cars has received strong additional support from an anchor group of large institutional investors including Första AP-fonden (AP1), Tredje AP-fonden (AP3) and Fjärde AP-fonden (AP4) as well as Alecta Pensionsförsäkring, Ömsesidigt, Folksam and AMF (AMF has increased its investment in addition to its cornerstone commitment), with indications of investments totalling approximately SEK 7.7 billion. This anchor investor support together with the previously announced cornerstone commitments of SEK 6.4 billion amounts to approximately SEK 14.1 billion, corresponding to approximately 71 per cent of the gross proceeds from the new issue of common shares of class B.
In addition, there has been overwhelming interest from Swedish and Nordic retail investors with over 90,000 subscriptions to date.
A prospectus supplement is being prepared and is, subject to approval by the Swedish Financial Supervisory Authority, expected to be published later today.
The application period for retail and institutional investors will be extended with one day. Investors who have already applied to acquire shares in the offering will be entitled to withdraw their applications up to and including 28 October 2021. See timetable below.
The first day of trading on Nasdaq Stockholm is expected on 29 October 2021, one day later than previously indicated, to accommodate the extended application period and withdrawal rights.
VSBGF... SEGI...XALL...IQST... ALYI... MOBIF... JNSH.... TTCM...PGTK... SMKG...VSQTF... SNWR....UATG...JNSH.