Scania and MAN owner Traton lists with capitalisation of £13.5bn

Scania Griffin
 

Volkswagen has completed an IPO for subsidiary Traton today (28 June), placing 57.5 million shares at a price of €27 (£24) each and raising £1.55bn. Volkswagen remains the majority shareholder in the business, which owns Scania and MAN, having sold 11.5% of the company. It is now listed on the Stockholm and Frankfurt stock exchanges. The company had previously provided a share price range of between €27 (£24) to €33 each. At €27 per share, the lower end of expectations, […]