Volkswagen AG shares climbed the most in two weeks after the German automaker revived plans for a partial offering of its Traton SE heavy-truck division and said it may dispose of two noncore businesses.
The decision to list the truck unit came late May 13, just two months after the world’s largest carmaker shelved the proposal, citing market conditions. While it didn’t explain the about-face, VW said it hopes to list the business — which sells Scania, MAN, and VW-branded heavy trucks — by its August break.
“The most important point for us is that we’ve made the decision to IPO now,” Volkswagen trucks head Andreas Renschler said in an interview with Bloomberg Television on May 14. “Of course, there are uncertainties in the market, but they will be always there. Now we can go further and develop our strategy.”