Sharjah24 - Reuters: Volkswagen's leadership will meet later on Monday to decide on whether to proceed with the much-anticipated listing of Porsche, as an escalation in an energy standoff between Russia and Europe has caused major market turbulence.
Volkswagen will publish a so-called intention to float for the potential initial public offering in late September or early October, assuming its supervisory board gives the go-ahead at a meeting late on Monday.
But the carmaker could shorten or extend the four-week period for buyers to express interest, or pull its plans altogether, should investors not express enough enthusiasm for the listing, two sources close to negotiations said.
"It would be the technical go-ahead, nothing more," one of the sources said of a decision in favour of triggering a listing. "It's paving the way, but this would not guarantee that the stock market bell will ring in the end."
The intention to float could include an offering to retail investors in countries in Europe including France, Spain, and Italy, a source close to negotiations said, in an attempt to tap into Porsche's loyal fan base.
For an optimal experience, please
