Porsche, VW works on IPO: listing on the stock market in autumn | FormulaPassion.it

Volkswagen’s preparatory work continues for the listing of Porsche on the stock exchange. The IPO of the Zuffenhausen-based brand is expected to materialize in the fourth quarter, between September and October. The geopolitical situation still casts some shadows on the operation, with the uncertainty dictated by the crisis and above all by the war in Ukraine which do not fully convince investors. VW is unlikely to back down but it is likely that the whole operation may slip.

In the meantime, however, the Wolfsburg giant is continuing to prepare the ground for the IPO, with the appointment of a series of additional subscribers who will be used to complete the landing on the stock exchange of Porsche. As reported Automotive News Europe, BNP Paribas, Deutsche Bank and Morgan Stanley have in fact been appointed Senior Joint Bookrunner, thus joining Barclays, Banco Santander, Société Générale and UniCredit who will work on the transaction as regular bookrunners. Finally, Commerzbank, Credit Agricole, LBBW and Mizuho Financial Group will hold junior roles within the transaction, in particular as co-lead manager of the offering. In the meantime, Porsche has held several meetings with investment funds, aiming firmly at the goal of launching the public offer as early as October. According to analysts, the listing of the Zuffenhausen brand will reach a record high in the sector, with estimates that quantify the value of the sports car brand at at least 90 billion euros. Interesting how VW has not chosen European financial or credit institutions for the most important transactions linked to the listing: in fact, Goldman Sachs, Bank of America, JPMorgan Chase and Citigroup will coordinate the move to the stock market, all involved in the front line for the sale of the shares. by Porsche.

Through the IPO of the Stuttgart car manufacturer, Volkswagen would have the necessary liquidity to continue the electrification process and aim even more decisively at the leadership of the sustainable mobility market. However, the Wolfsburg giant has not released official statements regarding the latest rumors on the operation and we will therefore have to wait for the next few weeks to understand what the complete picture will be.