There have been rumors of a Porsche IPO for some time, it is now official and it will take place at the end of September or the start of October.
The Porsche IPO will be listed on the Frankfurt Stock Exchange and Volkswagen will off 25% of non-voting Preferred Shares of Porsche in the Initial Public Offering.
“We very much welcome the decision of the Volkswagen Supervisory Board in favor of an IPO of Porsche AG,” Oliver Blume, Chairman of the Executive Board of Porsche AG said. “This is a historic moment for Porsche. We believe an IPO would open up a new chapter for us with increased independence as one of the world’s most successful sports car manufacturers. It would strengthen our ability to further execute our strategy.”
In preparation for the IPO, the share capital of Porsche AG was divided into 50% Preferred Shares and 50% Ordinary Shares. In the IPO itself, up to 25% of the Preferred Shares in Porsche AG would be listed to support a meaningful free float and help create a liquid aftermarket for the Porsche AG shares.
You can find out more details about the Porsche Initial Public Offering over at the company’s website at the link below.
Source Porsche
Filed Under: Auto News
