Thursday December 7, 2023

Porsche Could Reach $78B Valuation in IPO

  • The transaction would make Porsche Europe’s third-largest IPO ever.
  • Porsche is scheduled to start trading on Sept. 29.
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Porsche is looking to raise $9.4 billion in its initial public offering, valuing the luxury car maker and Formula 1 hopeful at as much as $78 billion. 

Earlier this month, Volkswagen announced plans to list Porsche — one of its 12 car companies — on the Frankfurt stock exchange, and will price shares of the German sports car brand between $76.58 and $82.58. 

  • The transaction would make Porsche Europe’s third-largest IPO ever. 
  • Volkswagen is only offering roughly 12.5% of Porsche.
  • The company will use 49% of the proceeds to pay shareholders in a special dividend.
  • Porsche is scheduled to start trading on Sept. 29

An IPO has already sparked the interest of potential investors. The Qatar Investment Authority has indicated plans to purchase a 4.99% stake in Porsche, while ADQ — an investment arm of the Abu Dhabi government — as well as T. Rowe Price and others also plan to acquire Porsche shares. 

Deal Breaks Down 

Porsche was expected to secure a deal for 50% of Red Bull’s F1 team and 50% of Powertrains, but the two parties couldn’t come to an agreement. 

Red Bull’s investors reportedly weren’t willing to sell a stake in the F1 team and, among other issues, disagreed over the power to name drivers for a joint race team.

Another Volswagen company, Audi, announced plans in August to enter F1 in 2026 as a power unit supplier.

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