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VW Postpones IPO for Traton Truck Unit
Volkswagen AG says it is postponing a planned initial public offering for its Traton commercial truck business, citing unfavorable market conditions.
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Volkswagen AG says it is postponing a planned initial public offering for its Traton commercial truck business, citing unfavorable market conditions.
VW renamed its truck and bus unit, which consists of the group’s MAN and Scania big-truck brands, as Traton AG last August. The move was seen as a precursor to an IPO.
Chief Financial Officer Frank Witter tells reporters that VW will try again when market jitters over economic conditions and the U.S.-China trade war subside.
Traton is expected to be valued at €25 billion-€30 billion ($28 billion-$34 billion). VW had been expected to sell about €6 billion worth of Traton shares.
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