Volkswagen approved plans for a Porsche IPO in late September to early October.
The German automaker intends to list an initial public offering of the preferred shares of Dr. lng. h.c. F. Porsche AG on the Regulated Market of the Frankfurt Stock Exchange. Volkswagen anticipates that the listing should be finished before the year’s over.
“In preparation for the IPO, the share capital of Dr. Ing. h.c. F. Porsche AG has been divided into 50% preference shares and 50% ordinary shares. As part of the IPO, a total of up to 25% of the preferred shares in Dr. Ing. h.c. F. Porsche AG would be placed with investors from the holding of Volkswagen AG,” noted VW.
Porsche additionally released a declaration about Volkswagen’s approval for its IPO. The luxury carmaker’s press release indicated that the IPO’s finer details actually need further conversation before it enters the stock market.
“Any further steps, in particular signing the contracts required for the possible transaction (acquisition of 25 percent plus one share of the ordinary shares and IPO) and thus both the acquisition of 25 percent plus one share of the ordinary shares in Porsche AG and the implementation of the IPO of Porsche AG, are subject to market developments, further reviews and committee decisions,” noted Porsche.
In February 2022, Volkswagen AG and Porsche SE decided to look at the achievability of Porsche entering the stock market. The automakers’ new declarations with respect to a Porsche IPO are the results of their feasibility examination.
