There have been rumors that Volkswagen is planning to float Porsche on the stock exchange over the last few weeks and now the company has revealed that they are considering this.
Porsche has released a statement on its website confirming that Porsche AG and Volkswagen AG are considering a listing on the stock exchange.
Oliver Blume, chairman of the Executive Board of Porsche AG, says: “We welcome this decision of Volkswagen AG. Porsche is a strong brand with a robust business model and a worldwide fan community. We also pursue ambitious sustainability goals. For example, Porsche plans to achieve a neutral CO2 balance in 2030. Porsche and Volkswagen can continue to benefit from joint synergies in the future.”
The decision on a stock exchange listing of Porsche AG lies solely with Volkswagen AG’s executive bodies. Porsche AG is therefore unable to provide any further details at this time.
There will be two types of shares, one with voting rights which Volkswagen will hold on to and preference shares which will pay a dividend to shareholders. Volkswagen will hold 50% of the original shares which ill control the voting right of the company, 25% of the shares will be sold through an IPO.
Source Porsche, Autocar