Volkswagen approves Porsche IPO plans

Date:

Volkswagen approved plans for a Porsche IPO in late September to early October. 

The German automaker plans to list an initial public offering of the preferred shares of Dr. lng. h.c. F. Porsche AG on the Regulated Market of the Frankfurt Stock Exchange. Volkswagen expects the listing to be completed by the end of the year. 

“In preparation for the IPO, the share capital of Dr. Ing. h.c. F. Porsche AG has been divided into 50% preference shares and 50% ordinary shares. As part of the IPO, a total of up to 25% of the preferred shares in Dr. Ing. h.c. F. Porsche AG would be placed with investors from the holding of Volkswagen AG,” noted VW.

Porsche also released an announcement about Volkswagen’s approval for its IPO. The luxury carmaker’s press release hinted that the IPO’s finer details still need further discussion before it enters the stock market. 

“Any further steps, in particular signing the contracts required for the possible transaction (acquisition of 25 percent plus one share of the ordinary shares and IPO) and thus both the acquisition of 25 percent plus one share of the ordinary shares in Porsche AG and the implementation of the IPO of Porsche AG, are subject to market developments, further reviews and committee decisions,” noted Porsche.

In February 2022, Volkswagen AG and Porsche SE decided to examine the feasibility of Porsche entering the stock market. The automakers’ recent announcements regarding a Porsche IPO are the results of their feasibility examination. 

Do you know anything about Porsche’s IPO? Contact me at maria@teslarati.com or via Twitter @Writer_01001101

Volkswagen approves Porsche IPO plans

spot_img

Latest Intelligence

spot_img

Latest Intelligence

spot_img

Latest Intelligence

spot_img