VW Halts Truck Unit IPO Until Market Conditions Improve

FILE - In this Sept. 22, 2015, file photo, the Volkswagen logo of a car is photographed during a car show in Frankfurt, Germany. A dealer familiar with Volkswagen's plans says the automaker intends to offer $1,000 in gift cards and vouchers to owners of smaller diesel cars as a gesture of goodwill to owners with 2-liter four-cylinder diesel engines that have been implicated in an emissions cheating scandal. AP Photo/Michael Probst, File

BERLIN—Volkswagen said on March 13 it would halt preparations for an initial public offering (IPO) of its trucks unit Traton until market conditions improve, stalling what was expected to be Germany’s biggest share offering this year.

The automaker had previously said it could list up to 25 percent of Traton in a deal that was expected to raise 5-6 billion euros ($12 billion).