Porsche plans to raise €9.4bn in an IPO with a total company valuation of €70-75bn
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Yesterday, September 18, the German concern Volkswagen announcedthat the shares of the sports car manufacturer Porsche, which is part of it, will be placed among investors within the IPO in the price range of €76.5–82.5 per share. Thus, Porsche plans to raise €8.7–9.4 billion from the placement of its shares, with a total valuation of the entire company at €70–75 billion.
According to Bloombergthis is slightly below the company’s initial plans to receive a valuation of €85 billion. Analysts believe that this may be due to a decline in investor activity in the IPO markets due to rising inflation, which caused a slowdown in the global economy.
The placement of preferred shares among subscribers will begin tomorrow, September 20, trading on the stock exchange will start on September 29. Among those who have already signed up for a €3.7 billion purchase of Porsche preferred shares are the Qatar state investment fund, the ADQ Emirati investment fund, the Norwegian sovereign wealth fund and the US investment fund T. Rowe Price.
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