Stock exchange trading could begin at the end of the month.
(Photo: dpa)
Dusseldorf, Frankfurt The shares of the sports car manufacturer Porsche could be traded on the stock exchange in a few weeks. The Volkswagen supervisory board approved the stock market plans of its profitable Stuttgart subsidiary late Monday evening, as the group confirmed in Wolfsburg. Porsche could become one of the largest European IPOs. According to corporate and financial circles, a valuation of 60 to 80 billion euros is targeted.
As the VW Group explained further, the Management Board and Supervisory Board have jointly decided to aim for the planned first listing for the end of September or the beginning of October. However, subject to “further capital market developments” – if the price on the stock exchange was too low due to the weak market, the project would be cancelled. 60 billion euros are considered the pain threshold.
“The IPO of Porsche AG would give the transformation of Volkswagen a noticeable tailwind,” said VW CFO Arno Antlitz.
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