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Volkswagen could place additional Traton shares after IPO - CFO

Volkswagen could place additional Traton shares after IPO - CFO
FILE PHOTO: A Volkswagen logo is pictured in a production line at the Volkswagen plant in Wolfsburg, Germany March 1, 2019. REUTERS/Fabian Bimmer/File Photo -
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Fabian Bimmer(Reuters)
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HAMBURG (Reuters) – German carmaker Volkswagen could place additional shares of its Traton unit after the truckmaker’s planned initial public offering, Volkswagen finance chief Frank Witter said in a call with journalists on Monday.

The Wolfsburg-based conglomerate said last week it was aiming to raise up to 1.9 billion euros (£1.7 billion) by listing Traton. Volkswagen has scaled back earlier ambitions to list up to a quarter of the unit by opting to float a 10% stake.

Witter on Monday said the reaction from investors was positive while the market environment was “not ideal, but not bad either”.

(Reporting by Jan Schwartz; Writing by Thomas Seythal; Editing by Michelle Martin)

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