Volvo Cars to review options including IPO and stock market listing

Zhejiang Geely Holding said on Wednesday its unit Volvo Cars would explore capital market options such as a potential initial public offering (IPO) and stock market listing.

Geely purchased Volvo Cars from Ford Motor in 2010. Geely’s Hong Kong-listed unit Geely Automobile and Volvo Cars scrapped their full merger plan in February.

Geely’s revived consideration of an IPO for Volvo Cars could value the business at around $20 billion, Bloomberg reported on Wednesday mentioned people familiar with the matter.

A Volvo Cars spokeswoman has not commented on the report.