Porsche
From the end of September, investors can trade Porsche shares on the stock exchange.
(Photo: Reuters)
When it goes public, the sports car maker Porsche expects a valuation of 70-75 billion euros. In a meeting of the supervisory board on Sunday, the parent company Volkswagen set a price range of 76.50-82.50 euros per share, as the Wolfsburg-based group announced. The stock exchange prospectus is to be published on Monday, investors can place their orders from Tuesday. The initial listing on the Frankfurt Stock Exchange is planned for September 29.
Because of the size of the Porsche company, the popularity of the brand and the absence of other IPOs, many investors have been dealing with the subject of Porsche for weeks. Investment bankers familiar with the transaction report that their feedback has been very positive so far.
In a nod to the iconic 911 model, Porsche’s share capital was divided into 911 million shares. Half of this is to be accounted for by voting ordinary shares and half by non-voting preference shares. Of the latter, 25 percent are sold in the IPO.
Volkswagen wants to sell Porsche at a high price and buy the family holding company at a low price
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