Volvo Cars has carried out a distribution of the Polestar holding

Volvo Cars has carried out a distribution of 62.7 percent of the Polestar holding.

Volvo Cars has carried out a distribution of 62.7 percent of the Polestar Holding to Volvo Cars’ shareholders. Polestar has American Depository Shares, which represent the underlying Class A shares in Polestar, listed on Nasdaq New York. Based on the closing price for Polestar’s American Depository Shares on 4 April 2024, the total value of the distribution amounts to approximately SEK 10.4 billion.

Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”. As of December 2023, Volvo Cars employed approximately 43,400 full-time employees. Volvo Cars’ head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden.

Volvo Cars is advised by Mannheimer Swartling in connection with the distribution.