Porsche, an XXL size IPO – 09/29/2022 at 08:12

Porsche. A name. A prestigious brand that has become essential in the automotive industry. And now one of the biggest IPOs in European history. The most important since 2011. And the second in Germany, after that of the operator Deutsche Telekom in 1996. The manufacturer of the legendary 911, a subsidiary of the German automobile giant Volkswagen, burst onto the financial markets this Thursday, September 29.

The IPO price on the Frankfurt Stock Exchange was set at 82.50 euros per share, at the top of the range announced, between 76.50 and 82.50 euros. With nearly 114 million shares on sale, which correspond to 12.5% ​​of its capital, Porsche is preparing to raise 9.4 billion euros. The brand should be valued at 75 billion euros. This jackpot is to finance the electrification of the Stuttgart group, while 40% are already electrified (100% electric or rechargeable hybrids), with in particular the successful debut of the fully electric Taycan. By 2030, Porsche aims to sell 80% of electric vehicles.

Electric car: charging stations on trial

Under the leadership of Oliver Blume, boss of Porsche, who on September 1 became that of Volkswagen, the world’s second largest automobile company with its twelve brands (Volkswagen, Audi, Porsche, Lamborghini, Bugatti, Bentley, Seat, Skoda, Volkswagen Commercial Vehicles , Man,

… Source LePoint.fr

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