Porsche will be worth 75 billion euros to go public: Volkswagen

Frankfurt, Germany. – The German automaker Volkswagen plans to introduce on the stock market on September 29 to its subsidiary Porsche and its objective is a valorization of between 70 billion and 75 billion eurosthe group announced on Sunday.

The indicative price of the offer will be between 76.50 and 82.50 euros per share, the Volkswagen group said in a statement.

Volkswagen, the world’s second largest manufacturer, authorized at the beginning of September the admission to the Frankfurt Stock Exchange from the manufacturer of the legendary model 911.

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If values ​​close to the top of the range were reached, it would be one of the most important prices in Europe in recent years.

By relinquishing a fraction of its control over the sports car builder, Volkswagen is seeking to gain the billions needed to finance your investments in the electric, connected and autonomous car.

Porsche’s capital was divided into 50% preferred shareswhich offer a reinforced dividend, but without voting rights, and 50% of ordinary shares with voting rights.

Volkswagen plans to go public 25% of the preferred sharesthat is, 113,875,000 titles, which represents 12.5% ​​of the company’s capital.