FRANKFURT, March 15 Deutsche Bank is
placing 5.8 million Volkswagen preference shares on
the market by way of an accelerated bookbuild, the bank said in
a statement on Friday.
Deutsche Bank said it was the sole bookrunner for the share
sale, which is worth roughly 950 million euros ($1.23 billion)
based on the stock's Thursday closing price of 164.65 euros.
A spokesman for the bank declined to give further
Volkswagen shares were indicated 3.4 percent lower at 0722
GMT in trading before markets open, according to Lang & Schwarz
($1 = 0.7704 euros)
(Reporting By Christiaan Hetzner)