VW's Traton IPO expected to price at low end of range - bookrunner
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FILE PHOTO: Visitors stand at the booth of Volkswagen's truck unit Traton Group, former Volkswagen Truck & Bus AG, in Hanover, Germany September 19, 2018. REUTERS/Fabian Bimmer
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Fabian Bimmer(Reuters)
FRANKFURT (Reuters) – Volkswagen’s truck unit Traton is expected to price its initial public offering (IPO) at the low end of a 27 euros to 33 euros price range, a bookrunner said on Thursday.
The final price guidance given to investors was for 27 euros (24.19 pounds) a share, the person said.
Volkswagen said earlier this month it aimed to raise 1.55-1.9 billion euros by selling 10%-11.5% of Traton, having scaled back earlier ambitions to list a stake of up to 25%.
(Reporting by Arno Schuetze; Editing by Michelle Martin)
