Geely Automobile Holdings Ltd., the Chinese carmaker controlled by Volvo Cars owner Li Shufu, may raise as much as 20 billion yuan ($2.9 billion) through a listing on Shanghai’s STAR Market.
With the outbreak receding in China, sales have started to revive, and automakers are betting the world’s largest vehicle market can help them return to growth.
In February, Geely’s parent company announced plans to merge Geely Automobile with its Swedish affiliate, a move that could pave the way for the creation of China’s first global automaker.