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)