The Volkswagen group plans to float Porsche on the stock market on September 29 and is aiming for a valuation between 70 billion and 75 billion euros.
Informed investors or « simple » Porsche enthusiasts, the September 29 is a date to mark with a white stone. Indeed, the Volkswagen automotive group (parent company of Porsche) has list its subsidiary on the stock market on this date. It was announced on Sunday.
This is not the only news detailed by the organization. Thus, the latter specified the targeted valuation. It will be between nearly 70 billion and 75 billion euros. The indicative price of the offer will be between €76.50 and €82.50 per share.
Nearly 10 billion euros expected
If this were to happen, it would be one of the most important quotations in Europe in recent years. Volkswagen dreams of earning 9.4 billion euros with this operation. For this, the capital of Porsche was divided into 50% preference shares (shares giving their holders a reinforced dividend).
The rest is made up of ordinary shares (with voting rights). On September 29, the German group intends to place these 25% of preference shares on the stock exchange. Which represents 113,875,000 shares and 12.5% of the company’s capital.
The scholarship to accelerate the electrification of Porsche
Let us recall that with this operation, the VW group intends to obtain the billions necessary for the financing of investments in the electric car. Future connected and autonomous models will also benefit from this money. It will also strengthen the independence of the illustrious German firm, in the future.
Let us recall that the first evocation of this project dates back to February 24. Same day as Russia invaded Ukraine. This had the effect of profoundly upsetting the world economic markets.
Which is undoubtedly the reason why the group remained silent for the following months. Until confirming this operation again and detailing it this Sunday. Although the context remains turbulent on the financial markets.
Also read on Auto-Moto.com:
Porsche officially goes public
The Porsche 911 “Sally Special” sold for more than $3.6 million