Volkswagen management to make a decision on Porsche IPO today

Volkswagen management to make a decision on Porsche IPO today
Volkswagen management to make a decision on Porsche IPO today

Photo: Shutterstock
The board of the German car manufacturer Volkswagen is meeting today to discuss the possible IPO of its subsidiary Porsche. The ANP reports this on the basis of a statement from the manufacturer.

Volkswagen has conducted a feasibility study into a possible IPO of the sports car subsidiary. Earlier this year, it was announced that Volkswagen is considering listing Porsche independently. So a decision would be made today.

The IPO, which should take place in late September or early October, could become one of Europe’s largest IPOs ever. Due to difficult market conditions, IPOs have been scarce lately. The IPO could raise $85 billion, sources previously told Bloomberg. According to the sources, there is also interest in the IPO from well-known brands such as energy drink manufacturer Red Bull (rumor has it that Porsche will buy half of Red Bull’s F1 team) and LVMH, the parent company of luxury brand Louis Vouitton.

The management is also discussing the sale of approximately a quarter of the shares to the major shareholder, Porsche SE. Volkswagen was already in advanced negotiations with its major shareholder. A casual float of the highly profitable sports car brand would be an easy way to raise extra cash for EV investments. A final decision has yet to be made.

The article is in Dutch

Tags: Volkswagen management decision Porsche IPO today

PREV Morrisons lowers prices on 150 popular products
NEXT All of Cuba without power after Hurricane Ian passes, Florida braces itself