Porsche to Go Public at the End of the Month for 9.4 Billion Euros

Volkswagen, one of the largest automobile manufacturers in the world, also has Skoda, Seat, Cupra, Audi, LamborghiniBentley Porsche and Ducati brands are known as a huge company. But still, the company sometimes resorts to interesting ways to get more financial resources.

If you remember, last February, the German automotive giant bought 25% of Porsche. We talked about offering it to the public.. If the official statement on this at the beginning of this month was done. A new statement made in the past days announced when the IPO process will begin.

Shares expected to be listed on September 29

The German automotive giant, in its statement, announced that the public offering of the shares was announced on the Frankfurt Stock Exchange. announced that it will start on September 29. Moreover, this 9.4 billion euros The buyer of some of the shares (TL 172,179,706,000) is already known. Qatar Investment Authority, for themselves 4.99%announced that they will buy small amounts of shares for its other partners.

Volkswagen transferred the money it earned from this IPO to its company’s R&D department. will use it to raise funds. The R&D department is currently researching high-end automobile batteries with longer ranges and super-fast charging units. The company also needs to invest in R&D. in constant contact with electric vehicle investors.

After the completion of this IPO, Volkswagen 19.5 billion euros (9.945.000.000 TL) income. 49% of this money he earned, that is exactly 9.555.000.000 Euros (TL 175,046,173,534 TL) remaining after distribution to the shareholders 9.945.000.000 Euros will also use (182.187.280.015 TL) for investment in R&D projects.