Volkswagen AG seeks to defy market gloom going ahead with Porsche IPO

Volkswagen AG is planning the initial public offering at the end of September or beginning of October, subject to further developments in capital markets

Volkswagen AG decided to push ahead with its plan to list a minority stake in the Porsche sports-car maker this year despite gyrating markets, paving the way for what could be one of Europe’s biggest initial public offerings.
 

The manufacturer is planning the initial public offering at the end of September or beginning of October, subject to further developments in capital markets, VW said Monday in a statement, following a meeting of its supervisory board. Europe’s biggest carmaker is targeting to finalize the listing by the end of the year. 

“This is a historic moment for Porsche,” VW and Porsche