Volkswagen AG-owned luxury sports car brand Dr. Ing. h.c. F. Porsche AG denied speculation that the company will go public, The Wall Street Journal reported Oct. 15.

Porsche CFO Lutz Meschke fueled speculation about a possible IPO when he spoke to reporters at a media event Oct. 12.

When asked if Porsche will possibly list part or all of the company, Meschke said a luxury car group composed of VW-owned brands Porsche, Lamborghini, Bentley and Bugatti would be worth many times more than Ferrari NV.

Meschke also said he had raised the issue with the Porsche family and with VW executives and that any decision regarding an IPO rested with VW.

In an official statement, Porsche dismissed rumors of a possible listing.

Meanwhile, VW is reportedly preparing its truck unit Traton AG for a listing.