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VW Sets Traton IPO Share Price at €27-€28
Volkswagen AG’s Traton commercial truck unit will offer 10% of its equity in an initial public offering at a range of €27-€28 ($31-$32) per share.
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Volkswagen AG’s Traton commercial truck unit will offer 10% of its equity in an initial public offering at a range of €27-€28 ($31-$32) per share.
Last year Traton CEO Andreas Renschler predicted the unit would offer 25% of its equity at €27-€33 per share. Traton postponed its IPO in March, citing unfavorable market conditions.
The more modest IPO is expected to raise between €1.6 billion ($1.8 billion) and €1.9 billion ($2.2 billion). VW has said it will use the proceeds primarily to help fund its switch to electrified powertrain.
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