Northvolt's stock market debut would come in an IPO market that has gradually recovered from a major slump in 2022, which was driven by stock market volatility and fears of an economic slowdown. Northvolt has so far raised billions in debt to fund its factory investments, including a $1.1 billion raise last year in convertible notes. Northvolt has used the money from convertible bonds to increase liquidity and ramp up production at its gigafactory in Skelleftea, Sweden. Northvolt has raised about $8 billion in debt and equity to date from a wide range of investors, including Baillie Gifford and Folksam Group. (This story has been corrected to say that Northvolt 'has used the money from convertible bonds', not 'has refinanced its convertible bonds', in paragraph 7)Reporting by Anirban Sen in New York and Supantha Mukherjee in Stockholm; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

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