STOCKHOLM Dec 20 Geely's Volvo Cars said on
Tuesday it had raised 5 billion Swedish crowns ($531.83 million)
in a step towards a listing of the company.
A group of Swedish institutional investors had bought
newly-issued preference shares that would have "an immaterial
dilutive effect" on Zhejiang Geely Holdings' current 100 percent
"Today's move is another step towards Volvo Cars' long
expressed ambition to act as a listed company," the company said
in a statement.
Rising sales and profits at Volvo Cars has led to
speculation of a stock market listing over the past year,
although the company had said earlier this month it had no
immediate plans to list.
($1 = 9.4015 Swedish crowns)
(Reporting by Daniel Dickson and Bjorn Rundstrom, editing by