IPO

Automotive SaaS Firm MotorK Preps $173M IPO

MotorK, an Italian Software-as-a-Service (SaaS) company serving car dealers, is preparing to go public with an initial public offering (IPO) that could value the firm at 150 million euro ($173 million).

The company announced this week that the IPO is expected to happen before the end of the year, with MotorK listing on Euronext Amsterdam. 

Marco Marlia, MotorK’s co-founder and CEO, says the IPO will “unlock massive opportunities” for his company, its partners and its customers. 

“As a tech company with automotive in our DNA, we have worked tirelessly to build a market-leading platform and a successful growth strategy that combines organic growth with strategic acquisitions,” he said. “We believe this is just the beginning of our journey and that the runway ahead of us is expansive.” 

Founded in 2010, MotorK offers a cloud-based SaaS platform called “SparK,” which includes a suite of products designed to support “the

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Volvo Cars hopes to raise $2.9 billion in its stock IPO

STOCKHOLM/LONDON — Geely-owned Volvo Cars plans to raise 25 billion Swedish crowns ($2.9 billion) through an initial public offering (IPO), the Swedish carmaker said on Monday of what would be one of Europe’s biggest listings this year.

Volvo said it will list on the Nasdaq Stockholm stock exchange this year and that Chinese owner Geely Holding would remain its biggest shareholder.

In 2018, Volvo Cars and Geely, which also owns an 8.2% stake in Sweden’s Volvo Trucks, postponed plans to float shares in the Swedish carmaker, citing trade tensions and a downturn in automotive stocks.

“Volvo Cars believes that its unique structure and focused strategy makes it one of the fastest transformers in the global automotive industry, with mid-decade ambitions dedicated to electrification, sustainability and digitization,” the Swedish company said in a statement.

Like a number of other carmakers, Volvo has committed to shifting its entire car range to fully-electric

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