Business

Volkswagen said it would list Porsche in an ipo on the Frankfurt Stock Exchange that will take place in either late September or early October. The German carmaker is offloading only a portion of the stock, some of which will go to the Porsche-Piëch families, vw’s biggest shareholders. The rest will be sold to individual investors. vw will retain the remaining shares. The flotation could raise as much as €10.6bn ($10.5bn), which would make it the biggest stockmarket listing in Europe since Glencore in 2011.