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Exclusive-VW could issue common, preference shares in possible Porsche AG IPO – sources – Metro US

Exclusive-VW could issue common, preference shares in possible Porsche AG IPO – sources

FILE PHOTO: Auto Shanghai show in Shanghai
FILE PHOTO: Auto Shanghai show in Shanghai

HAMBURG (Reuters) – Volkswagen is weighing issuing an equal number of common and preference shares in a potential listing of luxury carmaker Porsche AG and may pay a special dividend to its owners to get support for such a move, two people familiar with the matter said.

Volkswagen may seek to list 25% in Porsche AG if it decides in favour of an initial public offering (IPO), the people said, adding no agreement has been reached and details of a final deal could still vary.

Volkswagen and Porsche SE earlier confirmed they were in talks about a potential listing of the iconic carmaker, which could result in one of the biggest-ever IPOs, adding no firm decision had been made yet.

Volkswagen and Porsche SE, which holds a 31.4% stake in Europe’s biggest carmaker, declined to comment.

(Reporting by Jan Schwartz and Christoph Steitz; Editing by Miranda Murray)

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