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VW Targets €1.9 Billion in Traton Truck IPO
Volkswagen AG says it hopes to raise nearly €1.9 billion ($2.1 billion) by selling 10% of its Traton AG commercial truck unit in an initial public offering that begins on Monday.
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Volkswagen AG says it hopes to raise nearly €1.9 billion ($2.1 billion) by selling 10% of its Traton SE commercial truck unit in an initial public offering that begins on Monday.
VW says the IPO, to be listed on exchanges in Frankfurt and Stockholm, will offer Traton shares at €27-€33. The company originally intended to offer 25% of Traton’s shares worth €6 billion. It postponed that plan in March because of unfavorable market conditions.
Traton consists of VW Group’s MAN, Rio, Scania and VW brand commercial vehicles. Formerly VW’s Truck & Bus business, the unit was launched in August 2018.
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