Tuesday, October 4, 2022
News Porsche Could Make its Initial Public Offering in Late September or Early...

Porsche Could Make its Initial Public Offering in Late September or Early October

Porsche could go public very soon despite unfavourable market conditions.

  • Estimates value the automaker between 60 and 85 billion Euro

  • If market conditions are not favourable, VW Group could still backtrack

  • The current plans call for the Porsche and Piech family to have a blocking minority

Many automakers have chosen to enter the stock market in the last two years and Porsche could be the next to do so.

The Volkswagen Group announced it will allow the Porsche brand to make its initial public offering in late September or early October.

This IPO could be the largest in Europe since 1999 and one of the largest in German history since the automaker is currently valued between 60 and 85 billion euros.

This is somewhat less than the VW Group hoped to raise, but it is still a good valuation considering the current state of the stock market and the decline in value experienced by other European luxury car makers in the last few months.

The money raised by selling shares will allow Porsche to keep expanding its electric vehicle portfolio and its software offering.

Since the global economy is less stable than usual at the moment, the VW Group said it could decide to expand the period for buyers to show interest and if not enough shares are forecast to be sold, it could cancel the whole IPO.

The current plans include preferential shares being offered to buyers in Europe, notably in France, Italy, and Spain in order to make it easier for Porsche fans to acquire shares of the company. Qatar will also play a big role in the company’s IPO since its investors are likely to buy 4.99% of the total shares.

In addition, about 25% of the shares will be split between the Porsche and Piech families in order to give them a blocking minority and thus more control over the future of the automaker.

Many believe that both families’ desire for a greater presence in Porsche is the actual reason why the automaker decided to go public despite the market being in a position that is far from ideal.

Trending Now

Nine Things You Need to Know About the Dodge Challenger

Pricing for the 2022 Challenger starts at $38,165 in Canada and $30,940 in the US. The Challenger bows out of production after the...

The Polestar 3 SUV’s Rear-End Revealed

The Polestar 3 launched officially on October 12th. The elegant SUV will pack serious performance. And it looks really good. Based on this new...

Faraday Future Raised $100 Million Ahead of the Launch of the FF91

The company reported having financial problems earlier this year. About $100 million has now been raised out of the required $325 million. The...

BMW to Launch Entry Level i1 and i2 by 2028

The i1 will come first in 2027. The i2 will follow in 2028. They will both be assembled on BMW’s upcoming Neue Klasse...

Porsche Could be Working on a Three-Row Electric SUV

This model would be positioned above the Cayenne in the automaker’s lineup Descriptions of this model say it could be part-sedan, part crossover ...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.