BEIJING: Volvo Cars may become a public company again, as its Chinese owner Li Shufu considers combining the Swedish automaker with his publicly traded auto unit to create a global carmaker with presence in all major markets. Volvo, wholly owned by Li’s Geely Group, will study the proposal to merge with publicly traded Geely Automobile Holdings Ltd., according to a statement on Monday (Feb 10). The enlarged company would be listed in Stockholm as well as Hong Kong, where Geely Automobile trades now. Volvo has been owned by Li for about a decade. In September 2018 Volvo Cars Chief Executive Officer Hakan Samuelsson said in an interview that the company would delay a planned initial public offering because market conditions had turned unpredictable amid growing global trade tensions.

Source: The Star February 10, 2020 11:37 UTC