It has been clear since the beginning of the week: The IPO of Porsche AG will come. Board of Directors and Supervisory Board Volkswagen-Group decided after a long review to list the sports car subsidiary on the stock market. It is likely to be one of the largest IPOs in Europe.
At the same time, the Volkswagen Group laid the groundwork for personnel changes on the Porsche Supervisory Board, which are to take effect in the event of the IPO. It is planned to include three female managers on the Porsche AG Supervisory Board: Micaela le Divelec Lemmi, Melissa Di Donato Roos and Hauke Stars (55).
Hauke Stars is a member of the Volkswagen Board of Management. As a technology and financial market expert, she was previously a member of the Executive Board of Deutsche Börse from 2012 to 2020. In addition, Stars is already a member of various supervisory boards and advisory boards. Until recently, Micaela le Divelec Lemmi was CEO of the Italian luxury label Salvatore Ferragamo and currently sits on various committees, such as the board of the coffee machine manufacturer De’Longhi. American-born Melissa Di Donato Roos is the head of the German software company Suse, based in Nuremberg.
“I am delighted that we were able to win Micaela le Divelec Lemmi, Melissa Di Donato Roos and Hauke Stars for the Supervisory Board of Porsche AG,” commented Arno Antlitz, Chief Financial Officer, Chief Operating Officer and Member of the Group Board of Management of Volkswagen AG, on the plans . “They are experienced connoisseurs of the luxury and technology sectors and will accompany Porsche AG constructively and critically.”
It is still unclear when the three managers will join the Porsche supervisory board: it usually takes around four weeks from the official announcement of an IPO to the initial listing. The Board of Management and Supervisory Board of Volkswagen named the end of September/beginning of October as the date for Porsche’s IPO, but subject this to further developments on the capital market.
Porsche’s IPO is likely to be one of the largest in Europe in recent years. Up to 25 percent of the non-voting preference shares – that is 12.5 percent of the share capital – of Porsche AG are to be placed on the stock market. According to financial circles, VW and Porsche are aiming for a valuation of 60 to 80 billion euros, with the sale of the preferred shares bringing in 7.5 to 10 billion euros. Volkswagen is likely to have already made arrangements with major investors to secure the placement.