The German car group Volkswagen is preparing an IPO of its subsidiary Porsche AG. Extensive discussions are underway with VW major shareholder Porsche Automobil Holding SE, VW confirmed on Tuesday. The owner families Porsche and Piëch combine their interests in this holding.
There has long been speculation about a possible IPO of the sports car manufacturer Porsche, so now there is official confirmation from the parent company. But a decision has not yet been made, it sounds Tuesday.
The share of VW was after the announcement about 8.7 percent higher. The share price of the Porsche holding – not to be confused with the car brand itself – also rose almost 10 percent. The holding company controls 53 percent of the voting rights in VW Group.
Last week, the German business magazine Manager Magazin reported that a maximum of a quarter of the shares of Porsche would be placed, good for a value of 20 to 25 billion euros. An IPO would no longer be for this year, according to the business magazine.
In addition to the Volkswagen brand, the German car manufacturer also has the Porsche, Audi, Lamborghini and Bentley brands in its portfolio.