Volkswagen unveils truck listing plans
The multi-brand carmaking group said it would press ahead with a listing of its trucks unit Traton in what could be Germany's biggest share offering this year. The supervisory board and board of management agreed to prepare an IPO for Traton before the 2019 summer break, “subject to further market developments”.
The company will press ahead with a listing of its truck unit, shares rally 2/7% on the news
Stocks impacted: Volkswagen AG (VOW)
As a reminder, in March, the company delayed an initial public offering for the trucks unit, citing market conditions amid rising trade tensions and fears about an uncontrolled exit of Britain from the EU. Now, Volkswagen is ready resume preparations for an IPO in summer this year. As the company mentioned earlier, it could list up to 25% to raise up to $6.7 billion.
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