Volkswagen seeks to raise as much as €9.4 billion ($9.41bn) from the initial public offering of sports-car maker Porsche in what could be Europe’s largest listing in more than
The German car maker said on late Sunday it was seeking a valuation of €70bn to €75bn for the listing, below an earlier top-end goal of as much as €85bn, with the deal going
European markets have been largely shut to IPOs for most of the year, with companies shying away from seeking new listings because of the region’s energy crisis, rising interest
Porsche isn’t alone in scaling back valuation targets, with Intel lowering expectations for its Mobileye IPO.
Amid the stock market slump, the plan to list is getting a boost from firm commitments of key cornerstone investors.
“We are now in the home stretch with the IPO plans for Porsche and welcome the commitment of our cornerstone investors,” VW’s chief financial officer Arno Antlitz said. The o
During meetings with potential investors, VW pitched the listing as a chance to invest in a company that combines the best of car-making rivals like Ferrari and luxury brands such
While Ferrari and Porsche both target wealthy buyers, the Italian manufacturer remains in a league of its own, boasting industry-leading margins and delivering a fraction of Porsch
Aside from offering investors a slice of one of the most recognisable names in car-making, the IPO will hand back significant decision-making power to the Porsche-Piech family, who
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