Volkswagen AG plans to proceed with the Porsche IPO

6 Sept 2022 , 11:26 AM

Despite volatile markets, Volkswagen AG chose to move through with its intention to list a minority stake in Porsche this year, opening the door for what may turn out to be one of Europe's largest initial public offers.

 the manufacturer plans to launch the initial public offering around the end of September or the start of October, depending on future events in the capital markets. The largest automaker in Europe hopes to complete the listing before the end of the year.

Oliver Blume, CEO of VW and Porsche, stated that "this is a historic moment for Porsche." "We believe that as one of the most successful sports car manufacturers in the world, an IPO would open a new chapter with greater independence for us."

13 years after being compelled to sell the sports car industry to Volkswagen, the wealthy Porsche and Piech family is poised to restore direct control over what was once their family firm with the share sale. Porsche Automobil Holding SE attempted to seize control of the much larger Volkswagen more than ten years ago, but the audacious plot failed when money dried up amid the financial crisis.

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