VW revives Traton listing but investors question timing

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By Aidan Gregory
06 Jun 2019

Traton, Volkswagen’s heavy trucks division, is back on the market. The German auto giant relaunched the IPO after it was postponed in March owing to market volatility caused by trade tensions between the US and China. The deal is a key event for the equity capital markets in what has been a tricky year. It is important for those involved and for the wider market that it goes well. Yet conditions are not much better now, particularly for auto stocks, raising questions among investors about Traton’s timing, writes Aidan Gregory.

VW is likely to target a smaller deal size of 10%-15% of the company, GlobalCapital has been told, and will have to make some concessions on the €30bn valuation figure that it was reportedly hoping for in March when it was said be looking to sell 25% of the ...

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