Northvolt, the Swedish lithium-ion battery producer that counts BMW and Volkswagen among its investors, is close to hiring banks for an initial public offering (IPO) that could value the company at more than $20 billion, four sources close to the matter told Reuters.
The potential share sale would come in an IPO market in gradual recovery from a 2022 slump driven by stock market volatility and fears of an economic slowdown.
Several big companies, including SoftBank-backed chipmaker Arm Holdings and social media company Reddit, are also preparing to go public in late 2023.in convertible notes that have helped it to increase liquidity and ramp up production at its gigafactory in Skelleftea, Sweden.of Britishvolt after it failed to to raise funds for an electric vehicle battery factory.Our Standards:
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