VW to float 10pc of truck unit, seeks to raise 1.9b euros
Volkswagen aims to raise up to 1.9 billion euros ($2.1 billion) by listing truck unit Traton, it said on Friday, scaling back earlier ambitions to list up to a quarter of the unit by opting to float a 10 percent stake.
The German carmaker said in a statement that the offering would be priced at 27-33 euros per share, which Jefferies analysts said valued Traton at a slight discount to industry peers but at a premium to Swedish competitor Volvo.
“We will now meet investors across the globe to convey our Traton story and the future potential of the group,” Traton Chief Executive Andreas Renschler said in a statement late on Friday after the publication of Traton’s IPO prospectus.
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