Volkswagen Shares Jump on News About Possible Porsche AG IPO
February 22 2022 - 5:16AM
Dow Jones News
By Kim Richters
Shares in Volkswagen AG rose on Tuesday after news that it is
looking into a potential listing of its sports-car maker Porsche AG
in an initial public offering.
The idea of possibly listing the brand has been reported in the
media repeatedly and analysts have said in the past that such a
listing could drive up the market value of the whole Volkswagen
group.
At 0936 GMT, Volkswagen preference shares were up 9% at
EUR190.64.
Volkwagen said it has negotiated a framework agreement with its
shareholder Porsche Automobil Holding SE, which could serve as a
base for further steps toward a potential listing of the sports-car
brand.
In a note earlier this month, Stifel said that Volkswagen and
Porsche SE shareholders would benefit from a listing, even in what
it called a negative scenario in which Volkswagen pursues an IPO
for the brand rather than a spinoff and the free float would be
less than 20%.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
February 22, 2022 05:01 ET (10:01 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Porsche Automobile (PK) (USOTC:POAHY)
Historical Stock Chart
From Jul 2024 to Aug 2024
Porsche Automobile (PK) (USOTC:POAHY)
Historical Stock Chart
From Aug 2023 to Aug 2024