Volvo Cars down on ex-date for Polestar stake distribution

Volvo Car AB

11/04/2024 09:02

** Shares in Volvo Cars  VOLCARb.ST  slide 7% on the first day
of trading without shareholders having the right to receive
redemption shares in Swedish electric vehicle maker Polestar
 A4N1y.F 
    ** On April 12 Volvo Cars will distribute 62.7% of its
holding in Polestar to its shareholders
    ** The transfer of ownership amounts to about
SEK 10.4 billion in total, corresponding to SEK 3.5 per series B
share in Volvo Cars, based on Polestar's closing price from
April 4
    ** After the distribution, Volvo Cars retains an 18% stake
in Polestar

 (Reporting by Agata Rybska)
 ((gdansk.newsroom@thomsonreuters.com;))