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How to buy Volvo (VOLCAR-B) stock in Canada
Volvo stock is now available on the Nasdaq Stockholm AB (formerly the Stockholm Stock Exchange).
Volvo stock is now publicly available to purchase. You can’t buy Volvo stock on a Canadian stock exchange. But you can through a Canadian broker that offers access to international stocks.
Note: All dollar amounts on this page are in US dollars unless otherwise stated.
What we know about Volvo’s IPO
On Friday October 29, 2021, Sweden-based luxury vehicle manufacturer, Volvo, began publicly trading on the Nasdaq Stockholm AB (formerly the Stockholm Stock Exchange) under the ticker symbol “VOLCAR-B.”
The opening stock price was 58.75 Swedish krona (approx. $6.50), which was 10.85% higher than the previously announced price of 53.00 SEK (approx. $5.90). Between 367.65 million and 471.70 million newly-issued Class B stocks were up for grabs. The total amount raised from the IPO was around 20 billion krona ($2.3 million). Altogether, the company has a market valuation of around $23 billion.
Goldman Sachs Bank Europe SE and Skandinaviska Enskilda Banken AB (SEB) acted as the lead underwriters of the deal. Volvo filed a prospectus on October 18, 2021. You can view details of the offering in this Volvo press release.
Can I buy Volvo stock from Canada?
You won’t be able to buy Volvo stock on a Canadian stock exchange like the TSX or CSE. But you can from a Canadian-based brokerage that offers access to international stock exchanges.
Specifically, you’ll need access to the Nasdaq Stockholm, the exchange on which Volvo stocks are traded. Though many Canadian brokerages only let you buy and sell stocks on Canadian and US exchanges, you can get access to the Nasdaq Stockholm through Interactive Brokers.
How to buy Volvo stock
- Compare stock trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
- Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
- Search for Volvo. Find the stock by name or ticker symbol (VOLCAR-B). Research its history to confirm it’s a solid investment against your financial goals.
- Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Volvo reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
- Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market’s ups and downs. You may be able to buy a fractional share of Volvo, depending on your broker.
- Check in on your investment. Optimize your portfolio by tracking how your stock—and the business as a whole—performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management decisions that affect your stocks.
Compare trading platforms that provide access to international stocks
Compare special offers, fees structures and a types of investments that are available with some of Canada’s top stock trading platforms.
Note: The dollar amounts in the table below are in Canadian dollars.
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