HomeFinancial MarketsPorsche’s IPO to Come at $85 Billion Evaluation

Porsche’s IPO to Come at $85 Billion Evaluation

It looks like it is only a matter of time before Volkswagen’s sports car brand Porsche pulls the trigger on the initial public offering (IPO). And once that happens, it will reportedly be one of the biggest listings in Europe’s history.

According to Bloomberg, Porsche has already lined up investor interest for its IPO and came at an $85 billion evaluation on the high end. What’s left to do is for the company’s supervisory board to confirm the IPO, with the potential announcement being expected for next month. That is, of course, if some unforeseen circumstances happen on the market that would change the original plan.

Porsche has been doing the rounds in recent months, reaching out to various billionaires to gauge their interest in the IPO. Some of the contacted parties were Bernard Arnault, LVHM chairman, and Dietrich Mateschitz, founder of Red Bull. It is unclear whether Arnault and Mateschitz are interested, but Porsche won’t hurt if they are not.

At the moment, some big-time investors seem to be already on board, including Qatar Investment Authority and T Rowe Price Group. Porsche’s book-building process, which includes inviting investors to submit the number of shares they would want to buy and the price they are willing to pay for them seems to be progressing quite well. There are more investors on the lower end of the evaluation ($60 billion) than there are shares to go around, while the high end is also close to being maxed out.

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