Volvo Cars issues preference shares of SEK 5 billion
Volvo Cars has issued preference shares in an amount of SEK 5 billion to a group of Swedish institutional investors. The preference shares may be repurchased or converted into common shares in the event of a future listing of the company. The group of investors comprises of the pension funds AMF and the First Swedish National Pension Fund and the insurance company Folksam.
Volvo Cars produces premium-segment car models. The cars are marketed and sold by regional market companies and national sales companies through approximately 2,300 local dealers in about 100 countries. In 2015, Volvo Cars sold a total of 503,127 cars.
Volvo Cars was advised by Mannheimer Swartling in the transaction.