Porsche’s potential stock market listing is central to funding the carmaker’s electrification plans, Volkswagen (ETR:VOWG_p)’s chief financial officer said on Monday, 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 September 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 SE 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.