Volkswagen has confirmed its intention to float a portion of its prized Porsche sports-car brand within weeks, in what is likely to be one of Germany’s largest-ever public debuts.
The group said its supervisory board had decided to target a listing in Frankfurt at the end of this month or the beginning of October, “subject to further capital market developments”.
VW, which first revealed in February that it was considering a Porsche IPO, said it would sell 12.5 per cent of the Stuttgart-based subsidiary directly to new investors, adding that the Qatar Investment Authority, one of VW’s largest shareholders “has expressed strong interest” in buying almost 2.5 per cent of this tranche.
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