“We welcome strong investor interest in our company and are quite confident despite the current developments on the stock market,” Lutz Meschke, Vice President and Chief Financial Officer of Porsche, told Italian daily Sole 24 Ore.
It will enter the stock exchange as soon as possible
According to him, Porsche wants to be ready for the stock exchange by the end of September or the beginning of October. “The sooner the better,” Meschke added. The luxury sports car maker wants to offer investors 12.5 percent of its shares, which should also be preferred. This means that their owner would have a preferential right to a dividend.
Money will give to the development of electromobility
The automaker expects the IPO (Initial Public Offering) to be valued by investors at 60 to 85 billion euros. This would mean that the subscription of a 12.5 percent stake to the automaker could yield between 7.5 and 10.6 billion euros. The company intends to invest the money raised mainly in the development of electromobility.
