Porsche to go public in 2022

Listed on the Frankfurt Stock Exchange from the end of September to the beginning of October 2022

On September 6, 2022, Porsche AG officially announced the following about Porsche's stock listing (IPO), which has been said for a long time.

• Porsche AG welcomes Volkswagen AG's decision to offer up to 25% of preferred shares in Porsche in IPO
• Scheduled to be listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange
  • Joint Global Coordinators and Joint Bookrunners are BofA Securities, Citigroup, Goldman Sachs and JP Morgan
  • Joint Bookrunners are BNP Paribas, Deutsche Bank, Morgan Stanley, Banco Santander, Barclays, Societe Generale, Unicredit
  • Porsche AG's financial advisors are Commerzbank, Crédit Agricole, LBBW and Mizuho Bank
• The IPO (listing) is targeted for late September to early October 2022, and is expected to be completed by the end of the year depending on market conditions.
• “This is a historic moment for Porsche,” said Porsche CEO Oliver Blume.
• Preferred shares will also be offered to private investors through public offerings in Germany and other European countries
• The IPO will consist of public offerings in Germany, Austria, France, Italy, Spain and Switzerland, and private offerings to institutional investors.
• Porsche leverages the following strengths
  • Iconic brands and history in racing
  • Structured growth environment
  • great customer experience
  • Innovative battery electric vehicle (BEV) technology
  • Commitment to Sustainable Luxury
  • People-centered performance culture
  • compelling financial performance
• The IPO aims to give Porsche more independence to execute its strategy
• Therefore, the current "domination agreement" and "profit and loss transfer agreement" with VW will be terminated by the end of 2022.
• At the same time, VW and Porsche have agreed to maintain good cooperation and plan to continue to benefit from joint synergies.
• Volkswagen and Porsche have agreed to sign an industrial cooperation agreement on an arm's length basis

Regarding this official announcement, there are many annotations again, so please check the Porsche AG official website in the following source for details.

According to Western media, this Porsche IPO is said to be the largest in Europe.

Further details here:https://investorrelations.porsche.com/en/

Source:(Official) Porsche AG is preparing for its Initial Public Offering

Related article:
◆To be listed on Porsche (probably still): Volkswagen AG decides to consider the possibility of Porsche IPO

Past movements:
◆ (December 2021) Rumors that the Piech clan will sell VW shares for Porsche IPO
◆ (October 2021) Volkswagen Group CEO seems to have stopped planning to list Porsche for the time being
◆ (March 2021) Volkswagen CEO opposes Porsche IPO
◆ (February 2021) News that Porsche may be listed

Rika (911supercars.com)

I'm Rika, the author of this article. Ever since Porsche 911 became my favorite car, I've become totally addicted to Porsche, and I can't stop loving Porsche, so I started this blog. My favorite cars are 911 Carrera (991.2), 911 Carrera Cabriolet (992.1), and 911 Carrera T (992.1).