In a talk with Italian daily Il Sole 24 Ore, Porsche finance chief Lutz Meschke confirmed that Porsche AG aims to be ready for its widely anticipated initial public offering as soon as possible. This comes after the company experienced large-scale investor interest in this stock market investment opportunity.
“We welcome a strong interest in our company and we are confident despite challenging market conditions”, Meschke stated to the Italian daily business newspaper. The earlier the better.” According to the Volkswagen executive, the company wants to be ready for the listing as soon as the end of September or the beginning of October.
The listing is expected to involve the sale of shares amounting to 12.5% of Porsche AG’s total capital. This is based on investors’ calculations that the total value of Porsche is 85 billion euros.
While adding the listing and the timing of the IPO is subject to “further capital market developments”, Porsche remains confident that it is ready for the listing to be completed as soon as possible.