Volkswagen discusses Porsche IPO to fund electric future plans

The German company Volkswagen said that it will discuss the upcoming initial public offering of its subsidiary Porsche during the board of directors meeting on Monday next week of the current month of September, as it will discuss whether the public offering should be completed at the end of September or the beginning of October of this year. 2022, if it obtains the approval of all the parties involved in the discussion of the public offering of Porsche.

At Monday's meeting, all parties will also decide whether to sell 25% of the common stock to Porsche Automobil Holding, the main investment company of the famous billionaire family of Porsche and Beech.

It is worth noting that German car maker Volkswagen has begun work on a plan to offer a minority stake in its Porsche sports car brand during 2022, which could be one of the largest initial public offerings ever in Europe. However, difficult market conditions led to the suspension of some plans and public offerings in general.

Senior Entrepreneurs Interested in Porsche IPO 2022

Porsche attracted the interest of many investors in the initial public offering, according to Bloomberg International, Porsche was targeting a valuation between $60 billion and $85 billion, but interestingly enough, it has already received pre-orders to buy more shares than the stock. made available by persons who requested anonymity; Keep discussions private.

While others have revealed themselves and their great interest in offering Porsche shares for the public offering in 2022, among them comes the American company T. Rowe Price for Investment Management and Advisory Services, in addition to the Qatar Investment Authority (the sovereign wealth fund of the State of Qatar), both of which have already shown great interest. To participate in the public offering within the scope of that evaluation. 

Dietrich Mateschitz, founder of Red Bull

Not only that; Rather, Porsche studied the extent of the interest of some entrepreneurs and people with big money in the world; This brought the interest of Red Bull founder Dietrich Mateschitz, as well as Chairman of the Board of Directors of Bernard Arnault, the French holding company (LVMH), which specializes in selling luxury goods.

Bernard Arnault, Chairman of the Board of Directors of the Company (LVMH)