For some time there have been rumors about the Porsche IPO, now it is official and will take place in late September or early October.
Porsche’s IPO will be listed on the Frankfurt Stock Exchange and Volkswagen will receive 25% nonvoting preferred Porsche shares in an initial public offering.
“We very much welcome the decision of the Volkswagen Supervisory Board in favor of the IPO of Porsche AG,” said Oliver Blume, Chairman of the Management Board of Porsche AG. “This is a historic moment for Porsche. We believe that the IPO will open a new chapter for us in increasing our independence as one of the most successful sports car manufacturers in the world. This will strengthen our ability to further implement our strategy.”
In preparation for the IPO, the share capital of Porsche AG was divided into 50% preferred shares and 50% ordinary shares. During the IPO itself, up to 25% of Porsche AG preferred shares will be floated to support meaningful free float and create a liquid secondary market for Porsche AG shares.
You can find out more information about Porsche’s initial public offering on the company’s website at the link below.
Categories: Auto News