Volkswagen's management and supervisory boards will discuss at a meeting on Monday whether the long-anticipated listing of sportscar brand Porsche in late September or early October should go ahead, the carmaker said on Saturday.
Attendees look at the 2022 Porsche 718 Cayman GT4 RS during the 2021 LA Auto Show in Los Angeles, California, U.S. November 17, 2021. REUTERS/Ringo Chiu/File Photomanagement and supervisory boards will discuss at a meeting on Monday whether the long-anticipated listing of sportscar brand Porsche in late September or early October should go ahead, the carmaker said on Saturday.
A decision will also be made on whether Volkswagen approves of the sale of 25% plus one share of ordinary shares in Porsche AG to Porsche SE, as laid out in a framework agreement by the two parties in February.Register now for FREE unlimited access to Reuters.comIn a separate statement, Porsche SE, which owns 31.4% of Volkswagen and holds 53.
Even if the boards reach an understanding on Monday, the launch of the listing is still subject to market developments and further board discussions, Porsche's statement said. Some investors have questioned the timing of a stock market debut that would test the appeal of Europe's largest automaker at a time when the valuations of leading companies have shrunk amid the instability of war and record energy costs.Reporting by Riham Alkousaa and Victoria Waldersee Editing by Helen Popper
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