SAS 24 NEWS

Volkswagen Targets70-75 Billion Euro Valuation In Planned Porsche IPO

PARIS, France – Volkswagen is targeting a valuation of 70 billion to 75 billion euros ($70.1-75.1) billion for luxury sportscar maker Porsche as part of a planned initial public offering (IPO) of the division, a person familiar with the matter said. The pricing formed the basis for discussions in the supervisory board that were taking place on Sunday. Volkswagen was expected to announce the pricing range of the Porche IPO, planned for late September of early October, later in the evening.