Starting Tuesday, investors can place their orders for the upcoming Porsche IPO. The shares will be offered in a price range of EUR 76.50 to EUR 82.50. This could give Porsche a valuation of 70 to 75 billion euros. It is not yet certain that the IPO will take place at all, but Handelsblatt chief reporter Martin Murphy is currently optimistic. “This IPO is actually pretty safe. The question is at what price it will come.”
So is it worthwhile for investors to enter within the specified price range? “If you think you can gamble here, you might earn a quick euro if the share goes up at the beginning,” says Murphy in an interview with Lena Jesberg. In the medium term, however, the share could definitely lose value. The share would therefore be more worthwhile as an investment with a time horizon of several years.
In today’s episode of Handelsblatt Today you can find out exactly how the IPO works and under what circumstances it could not take place.
Shell market down again
Also: The market for so-called Special Purpose Acquisition Companies, or SPACs for short, is on the rocks. Even experienced sponsors withdraw from the IPO with a company shell. The Spacs experienced a lot of hype last year. But that seems to be over: A mix of fears of recession, inflation, a turnaround in interest rates and the Ukraine war has hit the financial markets and almost brought the market for IPOs in Europe to a standstill. Almost all Spacs are now in the red, and investors are no longer interested in new vehicles.
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There is also the problem of finding takeover targets. During the 24 months that the Spacs have to find a takeover candidate, shareholders have the right to redeem their shares. Handelsblatt editor Peter Köhler explains why many shareholders are currently making use of this and what needs to happen to revive the Spacs hype.
More: The end of the spac boom – shell companies lack investors and takeover targets
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