Porsche’s initial public offering (IPO) was launched today in Germany, and second The New York Times, start well. The IPO hit the German stock exchange and became one of the largest IPOs ever made in Europe.
At the time of launch, Porsche AG had a valuation of $ 72 million. Reuters reports that the stock rose during the day, peaking at $ 84.85 before falling back to $ 80.74. Four large investors accounted for 40% of the offer, of which 25% for the Porsche and Piech families. There is no mention of the total number of shares offered; we previously reported that 911 million shares could constitute the IPO, a nod to Porsche’s most famous vehicle, the 911.
Of Reuters, 19.5 billion euros (19 billion dollars) were raised through the IPO. Just under half will go to Porsche’s parent company, Volkswagen. The funds will help support and advance the automaker’s ongoing electrification efforts.
Interesting way, Reuters also mentions that the value of Porsche AG is only slightly lower than that of VW, although in this case, slightly that’s still a difference of about $ 4.6 billion. Porsche attempted to take over Volkswagen in 2008 but failed, although this ultimately led to a merger of the two brands in 2011.
Porsche joins a growing group of publicly traded performance brands. Ferrari’s 2015 IPO got off to a rather shaky start, but eventually values bounced back more than 400% by the end of 2019. Our DuPont registry colleagues studied supercar demand, revealing that Ferrari and Porsche. ..