Germany’s Volkswagen AG said it has priced the upcoming initial public offering, IPO, of its truck unit, TRATON.
The company is planning to list TRATON on the regulated market segments of the Frankfurt Stock Exchange and the Nasdaq Stockholm.
Volkswagen said it has set the price range for the shares has been set at EUR 27.00 to EUR 33.00 per share.
Frank Witter, CFO of Volkswagen, said: “I am pleased that we have reached another milestone on TRATON’s route to the IPO. We are now all set for the decisive phase. The IPO is driven by the aim to create value for our stakeholders.”
Andreas Renschler, CEO of TRATON member of the Board of Management of Volkswagen, said: “We are confident as we are heading for the finishing line. A strong team effort has brought us here. We believe TRATON is an attractive investment and feedback from investors and analysts strengthens this belief.”
The IPO values the truck company at $16.5 billion.