A new chapter for Porsche is beginning in the financial world.
Earlier this year, the Volkswagen Group announced that it would begin consideration for an IPO for its beloved luxury sports car brand Porsche, and it is now announcing that Porsche’s IPO will be come onto the market by the end of this year, at which point the brand will be listed on the Regulated Market of the Frankfurt Stock Exchange. In preparation for this change, Dr. Ing. h.c. F. Porsche AG has been divided into 50% preference shares and 50% ordinary shares, and 25% of the preference shares will be held by investors within the Volkswagen Group.
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Porsche Automobil Holding SE will acquire 25% plus one share in the ordinary share capital as well. Porsche’s financial statements, even after the IPO, will continue to be consolidated within Volkswagen AG’s financial statements, and Volkswagen plans to continue the existing partnership with Porsche, especially with regards to industrial and strategic cooperation. If the IPO is successful, Volkswagen plans to hold a general meeting this December at which it will propose to shareholders that a special dividend of 49% of the total gross proceeds from the placement of preferred shares and sale of ordinary shares be distributed to shareholders starting 2023.
Source: Volkswagen Group