“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.

The post Porsche Aims to Be Ready for IPO “As Soon as Possible”, Finance Chief Confirms appeared first on theprimarymarket.com.

Efforts to float the IPO are expected to begin in October with the listing completed by the end of the year. Volkswagen warned, however, that the timing of the listing is “subject to further capital market developments.”

Refinitiv data showed that the Porsche IPO could be the largest in Germany’s history as well as the biggest in Europe since 1999. While other luxury carmakers such as Ferrari and Aston Martin have declined in value, the Porsche brand has remained strong in the face of tightening economic conditions. Qatar has been reported as the main investor in the newly-listed company, gearing up to acquire a 4.99% stake.

Porsche has been a strong moneymaker for the Volkswagen Group in recent times, boosting its operating profit by 22% in the first half of the year. This is a stark contrast to the 8% fall suffered by the group as a whole.

The post Volkswagen to Launch Landmark Porsche IPO, Defying Market Conditions appeared first on theprimarymarket.com.

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.

The post Porsche’s IPO to Come at $85 Billion Evaluation appeared first on theprimarymarket.com.

“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.

The post Porsche Aims to Be Ready for IPO “As Soon as Possible”, Finance Chief Confirms appeared first on theprimarymarket.com.

Efforts to float the IPO are expected to begin in October with the listing completed by the end of the year. Volkswagen warned, however, that the timing of the listing is “subject to further capital market developments.”

Refinitiv data showed that the Porsche IPO could be the largest in Germany’s history as well as the biggest in Europe since 1999. While other luxury carmakers such as Ferrari and Aston Martin have declined in value, the Porsche brand has remained strong in the face of tightening economic conditions. Qatar has been reported as the main investor in the newly-listed company, gearing up to acquire a 4.99% stake.

Porsche has been a strong moneymaker for the Volkswagen Group in recent times, boosting its operating profit by 22% in the first half of the year. This is a stark contrast to the 8% fall suffered by the group as a whole.

The post Volkswagen to Launch Landmark Porsche IPO, Defying Market Conditions appeared first on theprimarymarket.com.

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.

The post Porsche’s IPO to Come at $85 Billion Evaluation appeared first on theprimarymarket.com.