The Volkswagen Group wants to list Porsche separately. The group is currently in advanced negotiations with major shareholder Porsche SE. A final decision has yet to be made.
It is now the first time that Volkswagen itself has confirmed that it is working on the IPO of Porsche, after the plans were leaked last year based on information from insiders. According to Volkswagen, internal agreements have already been made about a kind of framework agreement, which should form the basis for further steps in the preparation of a possible listing. However, the board and supervisory directors of the Volkswagen Group still have to give it a blow, just like major shareholder Porsche SE. That is the listed holding company of the Porsche and Piëch families, which has a majority stake in Volkswagen.
Bringing Porsche to the stock market separately from Volkswagen would be a relatively easy way to raise extra money for investments. Analysts at Bloomberg Intelligence estimate that the market value of Porsche as a whole is at $60 billion to $85 billion. Porsche is a profitable business unit of Volkswagen. Last year, the brand delivered a record number of more than 300,000 cars, with the Macan being the top seller and Taycan sales more than doubling. The brand is also doing good business in the field of online sales.
soak off
Porsche does not only draw its own plan at the stock exchange. The brand recently withdrew from Audi’s Artemis project, for which Porsche reportedly had to pay €100 million in compensation. According to Porsche, the Artemis platform did not fit well with the philosophy of the brand, which is mainly aimed at people who want to drive (sporty) themselves. Artemis should primarily serve as a hobbyhorse for autonomous driving. In the development of a new electric top model, Porsche will probably opt for the PPE platform, which will include the first electric Macan.
– Thanks for information from Autoweek.nl