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| Name | Symbol | Market | Type |
|---|---|---|---|
| Porsche Automobile Holding SE (PK) | USOTC:POAHY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.07 | 1.37% | 5.19 | 5.09 | 5.20 | 5.21 | 5.1875 | 5.20 | 142,572 | 21:18:14 |
From May 2021 to May 2024
By Kim Richters
Volkswagen AG said Tuesday that is talking to holding company Porsche Automobil Holding SE with regards to a possible IPO of the auto maker's sports-car maker Porsche AG.
Volkswagen said it has negotiated a framework agreement with its shareholder Porsche SE, which could serve as a base for further steps toward a potential stock market listing of the sport-car brand.
The agreement has to be approved by management boards and supervisory boards of the companies and a final decision hasn't yet been taken, it said.
Volkswagen shares jumped on the news, with the car maker's preference shares rising 8.6% to EUR190.06 at 0856 GMT. Porsche SE preference shares were up 11% at EUR90.00.
Porsche SE said in a separate release that it might acquire ordinary shares of Porsche AG in case of a listing.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
February 22, 2022 04:19 ET (09:19 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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