December 14, 2016 / 7:01 AM / a year ago

Geely's Volvo Cars says has no immediate plans for IPO

STOCKHOLM, Dec 14 (Reuters) - Geely-owned Volvo Car Group said on Wednesday it had no immediate plans for an initial public offering following a media report the carmaker was considering a listing next year.

Swedish business daily Dagens Industri reported, citing unnamed sources, that Volvo Cars, owned by China’s Zhejiang Geely Holding Group Co., could decide this year on whether to go public in 2017.

“We have no immediate plans for an IPO. This is a question for our owner,” a Volvo Cars spokesman said in an emailed statement to Reuters. (Reporting by Niklas Pollard)

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