Volkswagen In Advanced Talks About Possible Porsche AG IPO
February 22 2022 - 4:34AM
Dow Jones News
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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