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VW halts truck unit Traton IPO until better market conditions

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Staff Writer | Thursday March 14, 2019 4:29AM ET
Volkswagen Traton
Europe   Volkswagen said it would still aim for an IPO

Volkswagen said it would halt preparations for an initial public offering (IPO) of its trucks unit Traton until market conditions improve.


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The automaker had previously said it could list up to 25 percent of Traton in a deal that was expected to raise 5-6 billion euros ($12 billion).

Volkswagen said it would still aim for an IPO once market conditions improve.

"We regret having to distance ourselves, because of currently weak market conditions, from a stock market listing of Traton SE," Volkswagen Group's chief financial officer Frank Witter said.

Volkswagen's management board still believes in the rationale of a stock market listing when market conditions improve, Witter said.

 

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