Porsche IPO moves ahead as parent VW looks to defy downturn ...Qatar

Volkswagen AG is pushing ahead with its plan to list a minority stake in the Porsche sports-car maker despite gyrating markets, paving the way for what could be one of Europe’s biggest initial public offerings. The manufacturer is planning the initial public offering as early as this month, unless markets worsen significantly, VW said, targeting to finalise the listing by the end of the year. The move will direct funds to Europe’s biggest carmaker to foot the staggering cost of electrification and software development and return greater influence to the billionaire Porsche-Piech clan over the luxury automaker. “We have shown a huge resilience especially in crisis times,” VW and Porsche chi

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