Backed by approval from the Supervisory Board, the Board of Management of Volkswagen AG today resolved to go ahead with the planned IPO of TRATON SE before the summer break, depending on further developments on capital markets.
On March 13, 2019, Volkswagen AG decided not to continue with preparations for an IPO of TRATON SE in light of the difficult market environment at that time. The Board of Management did, however, state it was still aiming for an IPO once market conditions had improved.
Frank Witter, Volkswagen AG Board member responsible for Finance and IT, commented: “We have always clearly reiterated our intention to pursue an IPO. Current market assessments have encouraged us to take today’s decision.”
Andreas Renschler, Chief Executive Officer of TRATON SE and a member of the Board of Management of Volkswagen AG, said: “TRATON SE and our entire team are very well placed to resume preparations for a swift IPO. Our groundwork has been excellent and we are now fully focused on a potential IPO before the summer break.”
Disclaimer:
The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act. There will be no public offer of the securities in the United States of America.
SOURCE: Volkswagen
