- Volkswagen (OTCPK:VWAGY) is said to be considering launching an initial public offering for its Porsche (OTCPK:POAHY) sports car business as soon as September.
- The German car maker is aiming to list Porsche in October at the earliest, according to a Bloomberg report. Porsche has been having early meetings with fund managers in recent weeks.
- The update comes after the WSJ reported in February that Volkswagen (OTCPK:VWAGY) and its largest investor are said in advanced discussions that may lead to an IPO of Porsche (OTCPK:POAHY).
- Volkswagen is adding a number of additional underwriters as it pushes forward for the planned Porsche IPO, according to Bloomberg.
- The latest report comes after Reuters said in December that Volkswagen could set Porsche (OTCPK:POAHY) free in an IPO. Sources at the time indicated that the German automaker is still exploring a Porsche IPO in order to raise funds for the electrification push by the German automaker. Estimates on the valuation for Porsche AG range to as high as $101 billion.
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