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FRANFKURT (Dow Jones)–The sports car manufacturer Porsche is valued at up to 75 billion euros when it goes public. As the parent company Volkswagen announced following a supervisory board meeting, the price range for preferred shares in Porsche AG is between 76.50 and 82.50 euros. Extrapolated, this corresponds to a company valuation of around 70 billion to around 75 billion euros.
According to further information, the Wolfsburg DAX group is aiming for income of 8.7 billion to 9.4 billion euros from the IPO of Porsche. Up to 113,875,000 preferred shares including a possible over-allotment option are to be placed, which corresponds to up to 25 percent of the preferred share capital. The subscription period for private and institutional investors is expected to start tomorrow Tuesday and end on September 28th. The first day of trading on the Frankfurt Stock Exchange is then planned for September 29th.
Porsche had previously emphasized that it basically wanted to be ready for the partial IPO as soon as possible. The IPO was previously planned for the end of September or the beginning of October.
Contact the author: markus.klausen@dowjones.com
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(END) Dow Jones Newswires
September 19, 2022 00:12 ET (04:12 GMT)
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