Volkswagen AG confirms iconic sports car maker could soon be a publicly listed enterprise
Porsche could soon be a publicly listed company following an announcement from the Volkswagen Group that advanced discussions were being held with Porsche top brass regarding a potential IPO.
According to the German auto giant, the two parties have thus far negotiated a Framework Agreement which should form the basis for further steps in the preparation of a potential float.
Porsche Cayenne
“The conclusion of the Framework Agreement is subject to the approval of the Management Board and the Supervisory Board of Volkswagen AG. A final decision have not yet taken,” a VW Group spokesperson said in a statement.
“Whether a Framework Agreement is concluded… is currently open and depends on the approval of both parties’ boards”.
Porsche Taycan
Analysts from the Financial Times have speculated the iconic sports car brand could be worth as much as €200 billion ($A313.5b) – not far off double the current €115 billion ($A180.2b) stock market valuation of its Volkswagen Group parent company.
Industry sources have indicated that 25 per cent of Porsche shares could be listed, with the resulting revenue to be used to fund Volkswagen’s ever-growing number of electric vehicle projects.
Porsche 911
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Keyword: Porsche may go public with pending IPO