Indianapolis News and HeadlinesNational

Actions

Volkswagen announces plans for Porsche IPO in coming weeks

Germany Porsche
Posted at 4:50 PM, Sep 06, 2022
and last updated 2022-09-06 16:50:36-04

Porsche is going public.

Volkswagen, which owns the luxury sports car company, announced on Tuesday that the brand would be up for initial public offering this month or in early October to be completed by the end of the year.

In a statement, VW said the listing is conditional on "further capital market developments," so they could get cold feet and back down.

According to The Washington Post, bankers have reported that the value of Porsche is between 60 billion and 85 billion euros.

In a news release, Porsche AG said VW plans to offer up to 25% of preferred stock to private investors through the IPO.

According to Reuters, preferred shares would be available to retail investors in European countries, including France, Spain, and Italy.

CNN reported that just 12.5% of Porsche shares would be available to individual investors.