Exclusive-VW could issue common, preference shares in possible Porsche AG IPO – sources
8:07 am Tuesday, February 22nd, 2022
HAMBURG (Reuters) – Volkswagen is weighing issuing an equal number of common and preference shares in a potential listing of luxury carmaker Porsche AG and may pay a special dividend to its owners to get support for such a move, two people familiar with the matter said.
Volkswagen may seek to list 25% in Porsche AG if it decides in favour of an initial public offering (IPO), the people said, adding no agreement has been reached and details of a final deal could still vary.
Volkswagen and Porsche SE earlier confirmed they were in talks about a potential listing of the iconic carmaker, which could result in one of the biggest-ever IPOs, adding no firm decision had been made yet.
Volkswagen and Porsche SE, which holds a 31.4% stake in Europe’s biggest carmaker, declined to comment.
(Reporting by Jan Schwartz and Christoph Steitz; Editing by Miranda Murray)
