June 17, 2019 / 9:38 AM / a year ago

Volkswagen could place additional Traton shares after IPO: CFO

FILE PHOTO: Visitors stand at the booth of Volkswagen's truck unit Traton Group, former Volkswagen Truck & Bus AG, in Hanover, Germany September 19, 2018. REUTERS/Fabian Bimmer/File Photo

HAMBURG (Reuters) - German carmaker Volkswagen could place additional shares of its Traton unit after the truckmaker’s planned initial public offering, Volkswagen finance chief Frank Witter said in a call with journalists on Monday.

The Wolfsburg-based conglomerate said last week it was aiming to raise up to 1.9 billion euros ($2.1 billion) by listing Traton. Volkswagen has scaled back earlier ambitions to list up to a quarter of the unit by opting to float a 10% stake.

Witter on Monday said the reaction from investors was positive while the market environment was “not ideal, but not bad either”.

($1 = 0.8917 euros)

Reporting by Jan Schwartz; Writing by Thomas Seythal; Editing by Michelle Martin

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