Porsche IPO to be completed by the end of the 4th Quarter 2022

SEOUL, South Korea - EntSun -- According to the latest news and information released by Volkswagen, Porsche will be priced from 76.50 to 82.50 euros per piece with 113,875,000 shares to be issued. If everything goes according to plan and the actual asking price stabilizes within the specified range the total revenue is estimated to be between 8.71 and 9.39 billion euros. The IPO will commence on September 29th and is expected to be completed by the end of 2022. Listing is on the Regulated Market of the Frankfurt Stock Exchange. Preferred shares are open to private investors in Germany and many other European countries.

The brand well known for it's racing legacy, performance, prestige and reliability is one of the world's most successful sports car manufacturers to this day. To prepare for the event, Porsche's share capital was divided into 50% preferred shares and 50% ordinary shares. Up to 25 percent of Porsche's shares will be listed to create a liquid surplus market for Porsche AGs stock.

In Q1 this year, Porsche posted strong growth in revenue and the company is aiming for Group revenues in the range of approximately 38 to 39 billion euros and a return on sales in the range of 17 to 18 percent. Porsche aims to deliver in the mid-term Group revenue growth at an approximately 7 to 8 percent compound average growth rate while generating an Automotive net cash flow margin of approximately 12.5 to 14 percent.

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Volkswagen AG has said it intends to use of the proceeds to pay a one-off special dividend to shareholders, and the remaining funding will go to help towards the costly shift into electric vehicles and battery technology.

Among the top of the European public listing chart?

Some major investors have already confirmed they will participate including Qatar Investment Authority, Norway's sovereign wealth fund and mutual fund company T. Rowe Price. They will purchase up to 3.7 billion euros worth of shares making this IPO one of the largest in Europe.

Our Thoughts

David Goldstein, Head of Venture Capital at Core Asset Wealth Management commented in a recent company meeting about the IPO "We are delighted to hear more concrete information of this exciting listing. It has been just shy of 12 months since Core Asset Wealth Management and our corporate and institutional clients have been purchasing shares in the Pre IPO. More recently, we have extended the offer to retail clients and now we will see the results of what has been an exciting and profitable project."

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