October 19, 2021

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Polestar will be listed on the stock exchange at a price of 170 billion – E24

The listing is through Spac Gores Guggenheim.

Sweden-based Polestar has two models of electric cars in production, and is now aiming for an initial public offering on the Nasdaq.

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Electric vehicle manufacturer Polestar, founded by Volvo and Geely, confirms that it will be listed through Spac Gores Guggenheim.

come out in one press release.

Spac stands for “Special Purpose Acquisition Company” and is a listed company created solely to raise money in the market – with the intention of buying and merging an unlisted company in the future.

Polestar is expected to be listed on the Nasdaq in New York with an estimated market value of $20 billion – just under 172 billion crowns.

To the list, Gores Guggenheim will contribute approximately $800 million. In addition, a group of institutional investors will contribute $250 million, according to the press release.

Volvo Cars, Geely Chairman Eric Lee and actor Leonardo DiCaprio are already among the investors in Polestar.

Thus, Polestar produces electric cars, and its headquarters are located in Sweden. The company has two car models in production, and they are present in 14 markets, according to the press release.

Gores Guggenheim rose 7.6 percent in pre-opening hours on Wall Street.

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