Volkswagen Plans IPO of Porsche to Ignite EV Shift Momentum

Volkswagen AG is preparing an initial public offering of Porsche, seeking a listing of its most profitable asset to help boost the parent’s valuation and fund the push into electric vehicles.

VW’s preferred shares surged as much as 10% after the announcement Tuesday on a possible IPO outline between the carmaker and and Porsche Automobil Holding SE, a company controlled by the billionaire Porsche and Piech owner family.

–Bloomberg

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