Volkswagen (OTCPK:VWAGY) said Monday it will pursue an IPO of the preferred shares of Porsche (OTCPK:POAHY) and list them in Frankfurt, triggering what could become one of Europe’s largest-ever listings.
Analysts say the offering could value Porsche at as much as €85B, injecting fresh cash to help Volkswagen (OTCPK:VWAGY) fund its transition to electric vehicles and self-driving cars.
VW (OTCPK:VWAGY) is planning the IPO at the end of September or the beginning of October, subject to further developments in capital markets.
The company said it will begin meeting individual investors to weigh demand and determine the price for the shares.
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