In less than ten days, Porsche will make its official debut on the Frankfurt Stock Exchange. The Zuffenhausen brand, under the order of the Volkswagen Group, will be valued in a range between 70 and 75 billion euros, with a listing price calculated between 76.50 and 82.50 euros. Figures that, if confirmed, will make Porsche’s IPO one of the most important never made at European level: 9 billion euros could end up in the coffers of the colossus based in Wolfsburg, very useful money for the Volkswagen Group to accelerate the transition to electricity.
“The introduction on the stock exchange will allow the descendants of the founders of Porsche, Ferdinand and Ferdinand Anton Ernst Porsche, to return directly to the capital of the noble brand which has generated growth between 9 and 10% for over 10 years. – we read in Il Corriere della Sera this morning on newsstands – The preferential shares, the only ones to be listed (they represent 12.5% of the capital of the German giant), will be offered in the major European countries, Italy includedand investors will be able to subscribe up to 25%, including Porsche Automobil Holding ”. Between major shareholders Volkswagen deserves a mention, Qatar, which immediately announced its intention to purchase 4.99% of preferential shares, or approximately 2.5% of Porsche’s capital. The same maneuver will also be carried out by other funds, including the Norwegian sovereign funds in the hands of Norges Bank, those of Abu Dhabi and those of investment T Rowe Price: there is talk of an operation for about 1.9 billion euros.
Among the shareholders interested in this operation also the Lower Saxony, which has expressed its willingness to take possession of 25% of Porsche’s shares for a figure of approximately 10 billion euros. Unforeseen events permitting, by the end of the year the Volkswagen Group should meet in an extraordinary meeting in which it will propose to shareholders a extraordinary dividend of 49%, derived from the gross proceeds from the placement of preference shares and from the sale of ordinary shares, which will be distributed to group shareholders at the beginning of next year.
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