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image: Volvo

Volvo’s $30 billion IPO is officially off, and Trump’s trade war is to blame

November 29, 2018

Volvo, the Swedish automaker, has confirmed plans to shelve an IPO potentially worth $30 billion, having previously blamed President Donald Trump’s trade war for postponing the share sale.

“There are no plans or time schedule for entering into the equity market,” Hakkan Samuelsson, Volvo’s chief executive said at the Los Angeles Auto Show, according to Reuters. He added that the Swedish firm was not looking to raise money through bonds at the present moment.

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