Volkswagen Group is sticking to a plan to list Porsche later this year as Europe’s biggest automaker looks to finance a costly shift toward electric vehicles.
VW is going ahead with the initial public offering in the fourth quarter because the unit has proved resilient over the years to market disruptions including the recent supply-chain turmoil, Chief Financial Officer Arno Antlitz said Wednesday at the Future of Finance summit in Frankfurt.
"There's still capital out there and there is a lot of skepticism about investing capital in technology companies, in new ventures," he said in an interview. Porsche, on the other and, "is very solid."
VW is bullish on the listing even as IPOs globally have slowed as market volatility fueled by the war in Ukraine, rising interest rates and inflation all weigh on risk appetite.