Porsche IPO to issue 911 million shares; a nod to its famous model

RahulNagaraj · 19th September 2022, 12:08

According to media reports, the Volkswagen Group has confirmed that they will move forward with the IPO for its Porsche brand very soon. However, reports state that Porsche would issue 911 million shares in a nod to its most popular supercar ahead of going public.

Porsche IPO to issue 911 million shares; a nod to its famous model-porshe911gt3touring.jpg

Reports also state that the 911 million shares will be split in half, consisting of 455.5 million preferred shares and 455.5 million ordinary shares. Only the preferred shares will be listed. Further details of the price range, valuation, and confirmed cornerstone investors are likely to be announced at a slightly later stage.

Volkswagen's top shareholder, Porsche SE, has already committed to buying 25% plus one of the ordinary shares at a 7.5% premium to the preferred shares.

The German sportscar brand is targeting a valuation in the region of 70 - 80 billion euros.

Source: Reuters

Link to Team-BHP news

19th September 2022, 12:08	#1
RahulNagaraj Senior - BHPian Join Date: Mar 2021 Location: Bangalore Posts: 2,111 Thanked: 20,566 Times	Porsche IPO to issue 911 million shares; a nod to its famous model According to media reports, the Volkswagen Group has confirmed that they will move forward with the IPO for its Porsche brand very soon. However, reports state that Porsche would issue 911 million shares in a nod to its most popular supercar ahead of going public. Reports also state that the 911 million shares will be split in half, consisting of 455.5 million preferred shares and 455.5 million ordinary shares. Only the preferred shares will be listed. Further details of the price range, valuation, and confirmed cornerstone investors are likely to be announced at a slightly later stage. Volkswagen's top shareholder, Porsche SE, has already committed to buying 25% plus one of the ordinary shares at a 7.5% premium to the preferred shares. The German sportscar brand is targeting a valuation in the region of 70 - 80 billion euros. Source: Reuters Link to Team-BHP news Last edited by RahulNagaraj : 19th September 2022 at 12:10.
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