WOLFSBURG (dpa-AFX) - German automaker Volkswagen AG (VKW.L, VLKAF.PK, VOW.BE) Friday said it has decided to examine the possibility of listing sports Car manufacturing unit Dr. Ing. h.c. F. Porsche AG on the stock exchange.
In a statement, Porsche AG said its Executive Board welcomes this decision, which underlines the company's development.
Volkswagen and its major shareholder Porsche Automobil Holding SE (POAHY.PK, POAHF.PK) on Thursday had reached an agreement to continue to explore the potential initial public offering of Porsche AG.
Oliver Blume, chairman of the Executive Board of Porsche AG, said, 'We also pursue ambitious sustainability goals. For example, Porsche plans to achieve a neutral CO2 balance in 2030. Porsche and Volkswagen can continue to benefit from joint synergies in the future.'
Porsche AG said it is unable to provide any further details at this time, and that the decision on a stock exchange listing lies solely with Volkswagen AG's executive bodies.
Meanwhile, Volkswagen CFO Arno Antlitz reportedly said the listing of some of Porsche AG's preferred shares could be possible in the fourth quarter of 2022.
Further, Volkswagen also has stock market plans its electric car battery business. The division will be expanded in the coming years with investments in the billions.
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