Volkswagen plans to launch Porsche’s IPO

Leading German automaker Volkswagen Motors is planning to launch Porsche’s Initial Public Offering (IPO). Volkswagen said it had planned an agreement with Porsche. Once both the companies give their approval they will go public with Porsche. The shares of Volkswagen climbed by 9% on the Frankfurt Stock Exchange after this news and were trading around 188.14 euros. The company plans to infuse the capital raised by listing Porsche in investing in the electric vehicle segment and developing new models. The reports of Volkwagen going public with the Porsche has been doing rounds in the automobile industry since last year. Porsche is one of the major brands under the Volkswagen group. It is well recognized and famous globally for its lightning-fast sports cars. Apart from mostly having gas-powered sports cars in its lineup, it has Taycan in the EV segment.