Ahead of its initial public offering, Volvo Cars’ Chinese owner Zhejiang Geely is making some major concessions so as to wet investor appetite.

Chinese owned Volvo Cars has slashed the amount it aims to raise from its massive equity offering by a fifth to $2.3 billion (20 billion Swedish crowns), pricing the IPO at 53 crowns a share, at the bottom end of its initial range.

This new pricing values the company’s equity at $19 billion (163 billion crowns) compared with over $23 billion at the top of the range.

Geely has also stated, it would convert its super-voting shares to normal ones.

Clearly, it is easy to see why the Chinese parent is going the extra mile to convince investors since it is still at its early stages of its transition to electric vehicles from fossil fuel engines; there are also concerns of corporate governance given that Geely will be the largest shareholder.

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Tags: Chinese, Chinese parent, Class A, concessions, corporate governance, electric vehicles, equity offering, Initial public offering, investor appetite, investors, IPO, largest shareholder, normal voting ones, super voting shares, transition, valuation, value, Volvo Cars, Zhejiang Geely