VW Advances Truck Unit IPO Despite Trade Woes, Shaky Markets
- Traton division eyes dual listing in Germany and Sweden
- IPO seen as test of overhaul that could include Ducati sale
Freight trucks manufactured by MAN SE and Scania AB stand on display at the VW annual general meeting in Berlin on May 14, 2019.
Photographer: Krisztian Bocsi/BloombergVolkswagen AG set plans to list its heavy-truck division Traton SE in Frankfurt and Stockholm, moving forward with one of the year’s largest European public offerings despite a wobbly stock market and a swirling trade war between China and the U.S.
The company reaffirmed it expects the IPO to be completed “before the summer break” for German factories, while a person familiar with the matter said it could get done within four weeks. VW envisions the sale of between 10% and 25% of Traton, with the first step expected to be in the mid to lower end of that range, said the person, who asked not to be named discussing non-public information.