Porsche IPO central to funding electrification plans, VW CFO says

PORSCHE’S potential stock market listing is central to funding the carmaker’s electrification plans, Volkswagen’s (VW) chief financial officer said on Monday (Sep 5), adding that a final decision had not been taken.

Volkswagen’s management and supervisory boards will meet later on Monday to discuss whether the long-anticipated listing of Porsche should go ahead in late September or early October.

Arno Antlitz, appointed VW chief operating officer alongside his role as CFO on 1 Sep when Oliver Blume became CEO, said in an internal Volkswagen interview that preparing the initial public offering had been a key part of his role in recent months.

“This is a key element for the Group, especially because the possible proceeds would give us more flexibility to further accelerate the transformation,” Antlitz said in the interview. “However, a decision has not yet been made.”

It is not clear if VW will make a final decision on Monday, with Porsche saying in a statement on Saturday that listing’s launch was still subject to further board discussions as well as market developments.

Some investors have questioned the timing of a stock market debut that would test the appeal of Europe’s largest automaker at a time when big company valuations are under pressure amid uncertainty created by the Ukraine conflict and record energy costs. REUTERS