Porsche IPO draws commitment from Norwegian wealth fund

Major listing: Workers install the windshield of a Porsche 911 at the carmaker’s factory in Stuttgart-Zuffenhausen. The proposed Porsche IPO could be among the largest in German history and the biggest in Europe since 1999. — Reuters

FRANKFURT: Volkswagen (VW) AG has lined up commitments from anchor investors including the Norwegian sovereign wealth fund as it pushes ahead with a listing of its Porsche AG unit, according to sources.

Norges Bank Investment Management has agreed to buy stock in what’s set to be one of Europe’s largest initial public offerings (IPOs), the sources said.