VW raises €360m from Traton share sale
Volkswagen Group has brought in a much needed €360m (US$390m) infusion through the sale of a 2.2% stake in its Traton division. The company offered up to 11 million shares, equivalent to 2.2% of Traton’s issued share capital, through a private placement in an accelerated bookbuild offering aimed at institutional investors. The transaction was priced at €32.75/share. The sale reduces Volkswagen's direct holding from 89.7% to 87.5%.
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Originally posted on: https://www.automotiveworld.com/news/vw-raises-e360m-from-traton-share-sale/