Nice pick up
It has been in the air for ages, but Porsche is really going to go public. That will happen this month. Parent company Volkswagen Group hopes to raise up to €75 billion with the IPO.
Volkswagen has indicated that the issue price of the Porsche shares will be between €76.50 and €82.50. Volkswagen hopes to raise €70 to €75 billion with the Porsche IPO. That’s less than the $85 billion at best that was talked about earlier, but still a huge amount.
We will know more on Thursday 29 September, when Porsche will be listed on the stock exchange in Frankfurt. Volkswagen wants to invest the proceeds of the IPO in the development of electric cars and software. According to Autonews Europe, the Porsche-Piëch family buys 25 percent of the preferred shares, which means that it also has a significant influence on future decision-making.
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– Thanks for information from Autoweek.nl