Porsche is going public this week and shares will each be available for €82.50 , priced at the top of the company’s targeted price range.will see the Volkswagen Group sell 12.5 per cent of the company’s non-voting shares in a move that will raise approximately €9.4 billion and value the automaker at €75.2 billion . This will make it Germany’s second-largest listing ever.
The IPO is going ahead despite the current volatile state of the stock market and widespread economic concerns. “This [IPO] is a key element for the group, especially because the possible proceeds would give us more flexibility to further accelerate the transformation,”Speaking with the media last week, the head of VW’s works council, Daniela Cavallo, noted that the carmaker could sell more Porsche shares in the future in order to raise additional funds.