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| Name | Symbol | Market | Type |
|---|---|---|---|
| Geely Automobile Holding Ltd (PK) | USOTC:GELYY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.21 | 0.87% | 24.27 | 22.50 | 24.34 | 24.38 | 23.97 | 24.12 | 9,400 | 21:57:00 |
From May 2019 to May 2024
By Dominic Chopping
STOCKHOLM--Swedish savings and insurance provider Folksam has bought further preference shares in Geely-owned Volvo Car Corp. from a Swedish state pension fund for 750 million Swedish kronor ($83.2 million), it said Friday.
The acquisition brings Folksam's total investment in Volvo Cars to SEK1.75 billion.
"This investment gives our savings a good risk-adjusted return, while giving them the opportunity to increase their ownership in a company with strong ties with Swedish industry," says Michael Kjeller, head of asset management and sustainability at Folksam.
"Volvo Cars is today profitable, has a clear growth plan and high ambitions when it comes to issues like electrification strategies and self-propelled cars," he said.
The preference shares will be converted into common stock should the company list.
Write to Dominic Chopping at dominic.chopping@wsj.com; @domchopping @WSJNordics
(END) Dow Jones Newswires
December 21, 2018 04:39 ET (09:39 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
1 Year Geely Automobile (PK) Chart |
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