Volkswagen’s US shares rise after WSJ report of talks on listing minority stake in Porsche

The US listed shares of Volkswagen AG VWAGY,
+ 2.91%
Vow,
+ 3.02%
rose 2.6% in a record area on Thursday afternoon, after The Wall Street Journal reported that the German carmaker was in early talks about listing a minority stake in its Porsche subsidiary. Porsche Automobil Holding SE’s US shares POAHY,
+ 4.67%
PAH3,
+ 5.15%
rose 4.2% to a 13-month high. The WSJ report says that people familiar with the matter have said that discussions on a listing have been resurfacing for several years, but that they have recently gained a new quality. If a listing takes place, it can only happen next year, the WSJ report reads. Volkswagen’s share has risen 17.6% over the past three months and Porsche shares have risen 11.6%, while the iShares MSCI Germany ETF EWG,
-0.03%
achieved 8.2% and the S&P 500 SPX,
-0.70%
increased by 9.2%.