Volkswagen still optimistic for Q4 Porsche IPO - CFO

Volkswagen still working on Q4 IPO for Porsche - CFO
Volkswagen still working on Q4 IPO for Porsche - CFO Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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MUNICH - Despite market volatility, Volkswagen is still working toward an initial public offering (IPO) for Porsche in the fourth quarter that would give the luxury brand more freedom, the German carmaker's finance chief said on Wednesday.

"We are optimistic we can pursue this project in the fourth quarter," Chief Financial Officer Arno Antlitz said at the Reuters Automotive Europe conference in Munich. "Porsche would gain entrepreneurial freedom, we can expect a lot from them."

He added there was still plenty of investor appetite and capital available for an IPO.

"All the reasons we should pursue that project are still in place," he said.

Like other major carmakers, world No. 2 Volkswagen is in the middle of an expensive transition to electric vehicles.

($1 = 0.9511 euros)

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