VW AG announces its intention to publically list a minority stake in Porsche. Expect the outcome to be seismic 🤑
And so, finally, it begins. Porsche’s long-anticipated Initial Public Offering, widely expected to be among Europe’s biggest, was officially signalled by its parent, Volkswagen AG, late on Monday. Despite choppy market conditions, the manufacturing giant has confirmed that it plans to list a minority stake in the famed car maker.
While PH won’t pretend to understand the minutia of the IPO itself - it includes dividing up the share capital of Porsche AG into 50 per cent ‘Preferred Shares’ and 50 per cent ‘Ordinary Shares’, and apparently features a 25 per cent plus one blocking minority of the latter for the Porsche and Piech families via Porsche SE - several objectives are being targeted with the share sale.
“We believe Porsche is well positioned and will continue to focus on high-quality and exclusive products, electromobility and sustainability,” noted Lutz Meschke, Deputy Chairman of the Executive Board. “Therefore, I am optimistic that we could attract a very strong and well-diversified shareholder base with the IPO.”
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