Volkswagen still optimistic for Q4 Porsche IPO – CFO
2022.06.29 14:36
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FILE PHOTO: The Porsche logo is seen on wheel as Porsche’s new Taycan 4S is revealed at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Andrew Cullen
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MUNICH (Reuters) – Despite market volatility, Volkswagen (ETR:VOWG_p) is still working toward an initial public offering (IPO) for Porsche in the fourth quarter that would give the luxury brand more freedom, the German carmaker’s finance chief said on Wednesday.
“We are optimistic we can pursue this project in the fourth quarter,” Chief Financial Officer Arno Antlitz said at the Reuters Automotive Europe conference in Munich. “Porsche would gain entrepreneurial freedom, we can expect a lot from them.”
He added there was still plenty of investor appetite and capital available for an IPO.
“All the reasons we should pursue that project are still in place,” he said.
Like other major carmakers, world No. 2 Volkswagen is in the middle of an expensive transition to electric vehicles.
($1 = 0.9511 euros)
