Volkswagen’s Supervisory Board has decided: the operation will bring the group about 9 billion euros
Porshe will go public on September 29. The Volkswagen group values the sports and luxury car brand it has owned since 2012 at between 70 and 75 billion euros. From today it is possible to subscribe to shares with pre-orders. Volkswagen has already collected more than enough requests from investors to cover the 9.4 billion euros from the IPO of its sports car manufacturer, according to data from Bloomberg.
This is how much the shares will cost
The company will offer up to 113,875,000 million Porsche shares at a price between €76.50 ($76.6) and €82.50. If everything goes according to plan, gross revenues should be between 8.71 and 9.39 billion euros. Of this amount, approximately half will be used to pay a one-time special dividend to shareholders, while the remaining funds will be used to switch to electric vehicles. Private investors from Germany, Austria, Switzerland, France, Italy and Spain will also be able to buy shares. Arno Antlitz, Chief Financial Officer of the Volkswagen Group, believes that a decisive step has been taken: “We are now on the right track with regard to Porsche’s listing plans.”
Source: TG 24 Sky