Volkswagen to float Porsche for IPO

Volkswagen published an intention to float the sports car brand Porsche for an initial public offering, which could become one of the world's largest listings amid record inflation.

The IPO is eyed for late September or early October to be completed by the end of the year.

However, Volkswagen clarified that the listing and timing were subject to further capital market developments.

Volkswagen may reportedly extend the four-week period for buyers to express interest, or cancel its plans.

Investors anticipate a valuation of $60 billion to $85 billion.

While the Porsche brand is strong, other luxury carmakers' valuations have fallen, including Aston Martin and Ferrari.

According to Refinitiv data, the IPO could be among the largest in German history and the largest in Europe since 1999.

Qatar will be a key investor, pledging a 4.99 percent stake in the newly listed company.