Geely plans to divest Volvo B shares, with a transaction value of $1.3 billion
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Geely plans to divest Volvo B shares, with a transaction value of USD 1.3 billion. Geely will remain the second largest investor in Volvo, holding 88.5 million A shares. Geely stated that this divestment aligns with its long-term strategy. Geely sold 49.5 million shares through Bank of America Securities, Goldman Sachs Europe, and Barclays, with a guided price of SEK 285.9 per share. Volvo's first-quarter operating profit exceeded expectations, and the stock price has already risen by 12% this year
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