22 Feb 2022
Volkswagen AG in 'advanced discussions' about Porsche IPO
The Index Today
Volkswagen AG said on 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.