Traton expected to price toward lower end of range: sources
FRANKFURT (Reuters) - Volkswagen's truck unit Traton is expected to price toward the lower end of the marketing range in this week's initial public offering, people close to the matter said.
While demand is sufficient for the stock market flotation to go through, investors are cautious on price, they said.
"Investors are taking advantage of the fact that Volkswagen needs to show progress in its corporate restructuring after calling off the IPO in March and relaunching it now," one of the people said.
Books are oversubscribed on the full size of the offering, two people said.
Traton declined to comment, while Volkswagen had no immediate comment.
(Reporting by Arno Schuetze, editing by Riham Alkousaa)
© Copyright Reuters Ltd. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of Reuters Ltd.