Volkswagen stock jumps 5% on report the German automaker is eyeing a separate listing for its Porsche brand
Germanautomaker Volkswagen's shares rose 5% on a report that it's weighing a stock listing for Porsche.
- A potential
IPOor spinoff of Porsche could take place in 2022, according to Bloomberg.
- Volkswagen owns 12 brands including Audi, Bentley, Lamborghini, Porsche, and Skoda.
Volkswagen rose as much as 5% on Thursday after Bloomberg reported the German automaker is evaluating a separate listing for its luxury-car subsidiary, Porsche.
The 84-year-old company is studying the benefits of either a potential stock-market debut or spinoff of Porsche in consultation with advisers, Bloomberg said, citing sources. Proceeds from the potential listing or deal could be used for acquisitions or technological investments, according to the report.Plans are uncertain at this stage and talks could still fall apart, Bloomberg said. Volkswagen did not immediately respond to Insider's request for comment.
Although there's no firm timeline for Porsche's IPO, it could potentially take place in 2022, Bloomberg said. If the stock listing goes through as planned, Volkswagen would retain a majority stake in the business.The company has 124 production sites across the world. Of those, 72 are based in Europe, with 28 in Germany alone.
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