Porsche's IPO scheduled for September 29 - Business

Porsche’s IPO scheduled for September 29 – Business

(Belga) German sports car manufacturer Porsche plans to go public on September 29. Its parent company, the Volkswagen group, is aiming for a valuation between nearly 70 billion and 75 billion euros.

The subsidiary wishes to offer part of its preferred shares for free trading on the financial market. This decision was taken on Sunday evening by the boards of directors and supervisors of the VW group, the world’s second largest manufacturer. The IPO on the Frankfurt Stock Exchange, to which Volkswagen had given the green light at the beginning of September, had so far always been mentioned for the end of September or the beginning of October, but no precise date had yet been fixed. The price range will be between 76.5 and 82.5 euros. The objective is to issue up to 113,875,000 shares. In total, there will be 911 million Porsche shares in the new share structure. It’s a nod to the manufacturer’s best-known model, the Porsche 911. (Belga)

The subsidiary wishes to offer part of its preferred shares for free trading on the financial market. This decision was taken on Sunday evening by the boards of directors and supervisors of the VW group, the world’s second largest manufacturer. The IPO on the Frankfurt Stock Exchange, to which Volkswagen had given the green light at the beginning of September, had so far always been mentioned for the end of September or the beginning of October, but no precise date had yet been fixed. The price range will be between 76.5 and 82.5 euros. The objective is to issue up to 113,875,000 shares. In total, there will be 911 million Porsche shares in the new share structure. It’s a nod to the manufacturer’s best-known model, the Porsche 911. (Belga)

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