Spyker could achieve a dual listing in Sweden within four months

Article by Christian A., on August 29, 2010

If the Amsterdam-listed Spyker Cars NV isn´t required to undergo full due diligence, it could achieve a dual listing in Sweden within four months, according to CEO Victor Muller.

Spyker, which bought Sweden company Saab from General Motors Co. last February, has actually never made a profit yet. Incidentally, Spyker only made its last payment on the takeover last Monday.

Muller told Reuters last Tuesday that Spyker is aiming to have a dual listing this year. So far, there have been talks with the stock exchange and the company has been doing an inventory on the steps that have to be accomplished.

He added that the outcome depends on the work that has to be done and that with limited due diligence, it could achieve the deed in a a minimum of three to four months.

Muller had said previously that Stockholm was chosen for the dual listing because of its market reputation for hosting engineering companies and also to reinforce the company's Swedish identity.

Last Tuesday, Muller said that the dual listing plan is not designed to raise more cash. He clarified that to facilitate it, the company may have to do a small issue though.

Topics: spyker, sweden

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