Porsche - sports car manufacturer soon ready for the stock market - economy

The sports car builder Porsche wants to be ready for its IPO as soon as possible in view of the great interest from investors. "We welcome the strong interest in our company and we are confident despite the challenging market conditions," Porsche CFO Lutz Meschke told the Italian newspaper Il Solde 24 Ore. "We want to be ready for the IPO at the end of September, beginning of October. The sooner the better." Volkswagen wants to list 12.5 percent of the share capital of the Stuttgart subsidiary by the beginning of October and thus collect billions. Volkswagen has made the timing of the IPO subject to a condition - it will continue to depend on the development of the stock market. According to CFO Meschke, the move onto the floor can only be stopped in a very serious geopolitical scenario. With a possible issue volume of 7.5 to 10 billion euros, the Porsche IPO would be one of the largest in Europe in recent years.

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