Volkswagen Shares Rise After Releasing Details of Porsche IPO
25 2월 2022 - 6:17PM
Dow Jones News
By Kim Richters
Shares in Volkswagen AG rose on Friday after the car maker
revealed more details about its plan to possibly list its
sports-car brand Porsche AG in an initial public offering.
At 0830 GMT, preference shares in Volkswagen were 2% higher at
EUR179.70.
Volkswagen and its shareholder Porsche Automobil Holding SE said
late Thursday that they have fleshed out more terms of a potential
agreement to list the brand and that they are looking at the next
steps to prepare for a possible IPO.
Under the agreement so far, Volkswagen could list Porsche AG
with a free float of 12.5%. It plans to keep the majority of the
brand, while Porsche SE said it would also buy a stake.
At a conference call about the IPO, Volkswagen's finance chief
Arno Antlitz said the company will update on the progress of the
listing plans in late summer and the stock-market debut could
happen as early as the fourth quarter of 2022.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
February 25, 2022 04:02 ET (09:02 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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