Volkswagen Group has announced that it will take the Porsche car manufacturer to the stock exchange in late September or early October. It’s a historic moment, but it comes at a bad time for capital markets. Porsche can be valued somewhere between 60 and 85 billion dollars.
In 2021, Porsche had its best year ever with 301,000 vehicles delivered, of which 95,000 in China, 86,000 in Europe and 70,000 in the US. The company has delivered more than 41,000 units of the all-electric Taycan.
In 12 years, Porsche sales in Europe have doubled thanks to models such as the Cayenne and Macan.
The listing of Porsche has been discussed for years, the company announced its intentions in February, and now the green light has been given at the level of the VW concern. Although capital markets are falling, Porsche is a well-known company with good results and is expected to attract many investors with money.
For example, American investors have shown interest, and the state of Qatar wants to buy 5% of the shares.
VW Group plans to list Porsche on the Frankfurt Stock Exchange and will offer 25% of preferred shares to private investors.
Depending on how the IPO goes, Porsche’s listing could be the biggest for a German company and the biggest for a European company in two decades.
How Porsche’s revenues developed over the last decade (source statista.com)
2011: 10.9 billion euros
2014: 17.2 billion euros
2017: 21.7 billion euros
2020: 26.1 billion euros
2021: €30.3 billion
Sources: Reuters, AFP, CNBC
Source: Hot News RO
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