Volkswagen Group is receiving extremely high interest from investors for a stock market listing of its battery unit PowerCo, the chairman of the automaker’s largest shareholder Porsche SE said.
“We are hearing from Volkswagen that interest is extremely high on the subject of PowerCo. That should be a positive case,” Chairman Hans Dieter Poetsch said on the holding company’s annual results call on Thursday.
No other listings of VW subsidiaries were planned as of yet, Poetsch said.
Reuters reported last November that VW was in discussions with investors to join its battery division ahead of a possible partial initial public offering of the subsidiary, though nothing had yet been decided.