Porsche’s initial public offering continues. Volkswagen’s supervisory board could sign it as soon as Sunday, September 18, according to sources who spoke to Reuters.
As a reference to the model of the automaker’s most famous, Porsche allegedly plans to own a 911 million stake in the company. However, only half of them will be on the Frankfurt Stock Exchange. Porsche SE, which is holding company for investment, intends to purchase 25 percent of the available shares. This leaves 25 percent of the automaker available to investors.
If the VW board approves the IPO on Sunday, the stock prospectus could be available as soon as Monday. This will make institutional and private investors subscribe to the stock, which means they are guaranteed shares before trading starts.
One source spoke to Reuters said Porsche expects the company to be worth between €70 billion and €80 billion euros (between $70 billion and $80 billion at current exchange rates). An HSBC analyst forecast a much lower figure from €44.5 billion to €56.9 billion ($44.5 billion to $56.9 billion).
When officially announced the IPO, Porsche estimated that the process would be completed in late September or early October. Offering shares means “increased entrepreneurial independence,” according to the automaker’s statement.
“This is a historic moment for Porsche. We believe the IPO will open a new chapter for us with increased independence as one of the most successful sports car manufacturers in the world,” said Porsche Chairman Oliver Blume.
Porsche intends the stock to have a dividend payout ratio of 50 percent. This figure refers to dividends paid to shareholders in relation to the company’s net income.
Porsche has a major investment planned to achieve its goal of more than 80 percent of its vehicle shipments being EVs by 2030. The Macan EV is a new product and should be launched before the end of the year. The electric Panamera is in the early stages of development as an offering to sit on top of the Taycan. The seven-seater SUV also has a place in the future lineup.
