Nate
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Anyone interested in the Porsche IPO? Predictions?
Porsche shares are set to start trading on Sept. 29 and could value it at $78B. Volkswagen is selling 25% of its Porsche brand and is expected to raise around $19.5B.
More:
- Volkswagen said it plans to distribute about half of the net proceeds from the Porsche share sale to its shareholders in a special dividend.
- CFO Arno Antlitz had previously stated that money raised from the Porsche share sale would finance the company’s transformation to electric vehicles.
- Qatar Investment Authority, Norway’s Norges Bank Investment Management, T. Rowe Price, and ADQ, an investment arm of the Abu Dhabi government, have together pledged to buy at least €3.54B (~$3.54B) worth of Porsche’s preferred shares.
- Some investors have criticized Volkswagen’s structure of the Porsche share sale, noting it cements insider control of Volkswagen and Porsche.
#The Most Important Thing
wsj.com/articles/vw-price..
