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Investment bankers are hoping that Porsche’s IPO will act as some sort of icebreaker.
(Photo: Reuters)
Despite the economic crisis, fears of inflation and market turbulence, the VW Group is serious about the largest German IPO in a quarter of a century. However, the response from investors is mixed.
“With Porsche, one of the strongest German brands is going public,” says Simon Jäger, an analyst at asset manager Flossbach von Storch. At the same time, however, Jäger sees disadvantages for investors due to the nested ownership structure – and the fact that only a small proportion of Porsche shares are listed on the stock exchange. The analyst thus aptly summarizes the mood of investors.
There are hardly any doubts about the success of the IPO. For Ingo Speich, Head of Sustainability and Corporate Governance at Deka Investment, the IPO has a “historical dimension”. Jürgen Molitor, capital market strategist at the trading company Robomarkets, sees good chances of success “because of the brand awareness and the general affinity of German investors for car manufacturers, despite the less than optimal framework conditions”.
Porsche IPO: priority for the family
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