(Boursier.com) — The IPO of Porsche continues to make noise in the trading rooms. Not yet official, the operation would generate such demand that the luxury automaker could obtain a valuation of nearly $85 billion. A level that would make it one of the most important introductions ever made in Europe. According to ‘Bloomberg’ sources, the group’s brand volkswagen would have obtained pre-orders that exceed the shares offered for a valuation of between 60 and 85 billion euros. Porsche is reportedly considering going public with its next IPO in Frankfurt in the first week of September after gaining supervisory board approval, barring unexpected market shocks, the agency’s sources say.
Well-known investors, including T Rowe Price Group Inc. and Qatar Investment Authority, have reportedly already expressed interest in subscribing to the IPO in this valuation range. Porsche has also reportedly gauged interest from billionaires, including the founder of energy drink maker Red Bull, Dietrich Mateschitz, and LVMH boss Bernard Arnault.
Many European and US institutional asset managers who typically invest in large German IPOs have so far been reluctant to make firm commitments due to governance issues within the firm. Investors who participate in the IPO should also receive Porsche preferred shares without voting rights. Conversely, the Porsche and Piëch families, which control VW through voting shares, would receive a special dividend to fund the purchase of a blocking minority stake in Porsche.
©2022 Boursier.com
Please note that our “Rumors” section aims to echo the information circulating in the trading rooms. These rumors cannot be verified, so they should be viewed with caution.