Oliver BlumeCEO of Porsche and Cluster VW and Lutz MaschkeThe finance director of the German brand rang the bell. backpack from FrankfurtThe sports and luxury car firm started trading at market capitalization this Thursday. 75,000 million euros.
actions porsche It started trading at the highest expected price. €82.50 by title, given the high demand recorded in the previous days Public Offering (OPV) this thursday. Volkswagen Group, 9.39 billion euro with the operation, which will be used mainly for the electrification of its brands. Blume and Maschke described the listing of Porsche on the Frankfurt stock exchange as a “historic moment”. Biggest German IPO in 25 years.
target value Porsche AGthose mentioned €75 billionwill bring the company closer to the current valuation. Volkswagen Groupsurrounding 84 billion and will place it well above direct competitors such as Mercedes-Benz AG (56,030 million) or Ferrari (37.010 million).
During public offering will be sold until 113.9 million sharesWith an initial offer of 99.02 million common shares and 14.8 million preferred shares. Porsche Automobile Holding, in the hands of the family Porsche Part and the majority shareholder of the Volkswagen Group, 25% plus one the selling price of preferred shares of ordinary shares with voting rights plus a premium 7.5% consolidate control over the company, but Volkswagen Group will continue to own a majority stake in the brand – the rest of the voting shares – and include it in its financial reports.
In addition to the big names, some T. Rowe Price, ADQ, Qatar State Investment Fund or Norwegian Government Sovereign Wealth Fundfrom Germany, Austria, Switzerland, France, Italy and private investors Spain. For Spanish investors, Santander is the bank responsible for placing the German manufacturer’s titles.
this public offering of the porsche It comes at a difficult but also a sensitive time for markets suffering from inflation and an environment of international uncertainty. automotive industry because of the crisis chips and component supply. Some have described the operation as a way to test the appeal of one of the most prestigious brands in a key industry in countries such as: Germany anyone Spain.
from Volkswagen Group In this sense, they trusted a stable and consolidated company such as porsche This is attractive to investors in the context of volatility. “Porsche was and is the pearl of the Volkswagen Group,” said Chris-Oliver Schickentanz, director of investment at Capitell. Reuters. “The IPO demonstrated the value the market places on Porsche. This, of course, has a positive effect on shareholders. volkswagenHe added regarding the benefits that the German consortium would gain to allocate them directly to its electrification.