Sunday December 3, 2023

Porsche Gearing Up for Potentially Huge IPO

  • Porsche's IPO could value the automaker at more than $80 billion.
  • The company is seeking an entry point into Formula 1.
Porsche Motorsport
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A major name in luxury cars widely rumored to be seeking an on-ramp to Formula 1 will hit the public markets in the coming weeks.

Volkswagen announced plans to list Porsche in what could be one of Europe’s largest initial public offerings.

  • The IPO could value Porsche between $59.4 billion and $84.2 billion.
  • Volkswagen will only offer up 12.5% of Porsche, which could raise more than $10 billion, depending on pricing.
  • The hefty cash injection will help fund Porsche’s turn toward electric and self-driving cars. The iconic brand races in the all-electric series Formula E under the name Tag Heuer Porsche.

The Qatar Investment Authority indicated plans to purchase 4.99% of the company, according to Volkswagen. The sovereign wealth fund of the 2022 World Cup host has also invested in Fanatics and ONE Championship parent Group ONE Holdings. 

Red Bull founder Dietrich Mateschitz, T Rowe Price Group, and LVMH CEO Bernard Arnault have reportedly expressed interest in purchasing a stake in Porsche. 

Volkswagen has promised to return 49% of the proceeds from the IPO next year in a special dividend.

F1, Too?

The IPO is reportedly complicating plans for Porsche to join F1 in 2026 by purchasing half of Red Bull Advanced Technologies

While many expected an imminent public statement to that effect following fellow Volkswagen brand Audi’s announcement that it would enter F1 in 2026, recent reports suggest that Red Bull is keeping its options open.

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