May 28, 2019 / 2:15 PM / 9 months ago

VW on track to launch downscaled Traton IPO next week - sources

FRANKFURT, May 28 (Reuters) - Volkswagen is looking to officially launch the stock market listing of its trucks unit Traton next week with a smaller deal size than originally anticipated, people close to the matter said on Tuesday.

The carmaker earlier this month revived the plans to list Traton as it announced a corporate restructuring that includes investment in battery cell production and the divestiture of non-core assets.

Traton declined to comment while Volkswagen was not immediately available for comment.

The sources said that while the offer volume has not yet been finalised, Traton may sell shares worth 10-15% of the VW unit in a deal that may value it at more than 15 billion euros ($16.78 billion), falling short of initial plans to list as much as 25% of Traton.

Additional reporting by Alexander Huebner, Editing by Tassilo Hummel

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