Volkswagen: Porsche IPO timetable taking shape
(CercleFinance.com) - Volkswagen and Porsche Automobil Holding have announced that they had agreed to progress with the planned IPO of Porsche, as both groups prepare to enter the "next phase" of the operation.
In a statement, VW said that it is aiming for an initial listing on the regulated market of the Frankfurt Stock Exchange - subject to market developments - in late September or early October 2022.
By then, the capital of the luxury car brand will have to be split - 50% in preference shares and 50% in ordinary shares.
Volkswagen explains that it plans to market up to 25% of the preference shares and to sell 25% of the ordinary shares, plus one share, to Porsche Automobil Holding on the basis of the reference price plus a premium of 7.5%.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
In a statement, VW said that it is aiming for an initial listing on the regulated market of the Frankfurt Stock Exchange - subject to market developments - in late September or early October 2022.
By then, the capital of the luxury car brand will have to be split - 50% in preference shares and 50% in ordinary shares.
Volkswagen explains that it plans to market up to 25% of the preference shares and to sell 25% of the ordinary shares, plus one share, to Porsche Automobil Holding on the basis of the reference price plus a premium of 7.5%.
Copyright (c) 2022 CercleFinance.com. All rights reserved.