Nasdaq Stockholm Welcomes Volvo Cars to the Main Market
· Volvo Cars is one of the world’s fastest growing premium automotive brands
· Volvo Cars is the largest listing by proceeds raised on Nasdaq in 20 years
Stockholm, October 29, 2020 – Nasdaq (Nasdaq: NDAQ) announces that trading in Volvo Cars’ shares (short name: VOLCAR B) commence today on the Nasdaq Stockholm Main Market.
Volvo Cars was founded in 1927 and is headquartered in Gothenburg, Sweden. Over the course of its history, the company has been a global force for automotive safety and innovation. Volvo Cars has been credited with a number of industry leading innovations that are now standard in cars across the world, such as the three-point safety belt, the side impact protection system, side impact airbags and autonomous emergency braking. Volvo Cars take an important leading role in the industry by aiming to only sell electric cars by 2030 and be climate neutral by 2040.
Geely Sweden became majority owner of Volvo Cars in 2010. Volvo Cars has since then implemented a strategic transformation, from its status as a division within a large automobile group, under its previous majority owner, into a standalone premium automobile brand.
“Our industry is changing, and we strive to lead that transformation,” said Håkan Samuelsson, CEO of Volvo Cars. “That is why Volvo Cars has an ambitious strategy to become fully electric by 2030 and is also undergoing a transition towards a more direct to customer sales model. Today’s listing will help us get there and I would like to extend a warm welcome to all our new shareholders. We will work hard to execute our plan and create further value for you all.”
“To welcome an international company like Volvo Cars to Nasdaq Stockholm underscores our strong position as an exchange able to attract global companies,” said Adam Kostyál, Head of European Listings at Nasdaq. “Volvo Cars have taken many important steps to continuously advance both safety and sustainability efforts within the industry. The access to our broad investor base, strong visibility and supporting technology solutions will support their continued journey.”
“It´s hard to see a company better suited to mark the largest listing we have seen at Nasdaq Stockholm in 20 years,” said Fredrik Ekström, President of Nasdaq Stockholm. “It is with great pride that we welcome a company that so many Swedes have a strong relationship with and their listing will provide access for many new shareholders. We are happy to reach this important milestone together with Volvo Cars.”
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