Volkswagen In Advanced Talks About Possible Porsche AG IPO

By Kim Richters

Volkswagen AG said Tuesday that is talking to holding company Porsche Automobil Holding SE with regards to a possible IPO of the auto maker's sports-car maker Porsche AG.

Volkswagen said it has negotiated a framework agreement with its shareholder Porsche SE, which could serve as a base for further steps toward a potential stock market listing of the sport-car brand.

The agreement has to be approved by management boards and supervisory boards of the companies and a final decision hasn't yet been taken, it said.

Volkswagen shares jumped on the news, with the car maker's preference shares rising 8.6% to EUR190.06 at 0856 GMT. Porsche SE preference shares were up 11% at EUR90.00.

Porsche SE said in a separate release that it might acquire ordinary shares of Porsche AG in case of a listing.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

February 22, 2022 04:19 ET (09:19 GMT)

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