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Volkswagen confirmed on Tuesday in discussions with the company's major shareholders that Porsche’s shares will go public (IPO).
The discussion was between the VW AG’s board and the board of the main shareholder, Porsche SE (the holding company of the Porsche and Piech families), as it owns 31.4% of the VW Group and 53.3% of voting rights. Final approval must be made by both parties regarding this IPO.
Other sources reported that Porsche and Piech families are looking to reduce their stake in Volkswagen so they can get a larger stake in the Porsche IPO, for Porsche could be valued at 90 billion euros. On the other hand, VW pledged to develop electric vehicle and software development programs with the generous share from Porsche’ IPO.
We've seen many auto manufacturers go public with notable success in the last few years, including the IPO of Rivian and the SPAC deal of Lucid. This final decision is not out yet, and we are still waiting for the final approval of the parties, the administration and the supervisory boards.
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