German VW Announces Plans to List Porsche within the Year; Large IPO Expected

Last Updated on 09/06/2022 by てんしょく飯

On September 5, German auto giant Volkswagen (VW) announced its intention to list shares of its subsidiary Porsche, a luxury sports car manufacturer. While the global stock market is in turmoil due to record inflation and energy supply problems between Russia and Europe, this could be highlighted as a major IPO.

Largest ever in Germany.

VW’s supervisory board approves Porsche’s listing. According to the announcement, the initial public offering (IPO) is scheduled for late September or early October and is expected to be completed by the end of the year. The listing is to be made in Frankfurt.

Investors expect the company’s value to be valued at 60-85 billion euros. According to Refinitive’s data, at the upper end of the estimate, this could be the largest IPO ever in Germany and the largest in Europe since 1999. The IPO could be the largest ever in Germany and the largest in Europe since 1999.

VW aims to become the world’s largest player in software-driven mobility, and the Porsche IPO will mark an important next step in the company’s transformation. The company also said that Qatar would become the first country in the world to acquire a Porsche share.

The company also said that Qatar will hold 4.99% of Porsche’s shares in the medium to long term