Volkswagen to list Porsche in one of biggest IPOs in years: Report

Volkswagen (VW) said  that it would list its iconic sports car maker Porsche in one of the biggest initial public offerings in years and a crucial test of investors’ confidence as high inflation and the war in Ukraine put a damper on the global economy, the Wall Street Journal reported.
 

The offering could value Porsche at between 60 billion euros and €85 billion, equivalent to between $59.8 and $84.6 billion, according to analyst estimates, injecting fresh cash into VW’s coffers that executives say will help the company bankroll its transition to electric vehicles and self-driving cars.
 

“We have shown a