Shares of the Volkswagen car group are currently jumping 10% on the Frankfurt Stock Exchange. The company reported advanced contacts with the Porsche family owner to issue the car brand named after it. The world media has been reporting for months that Porsche is on its way to an IPO valued at $ 51-102 billion (45-90 billion euros), and for investors, the report coming out today is the first official reference to the IPO plan, indicating that things are becoming more certain.
It will be explained that in terms of the control pyramid there is the holding company Porsche SE, which is owned by the Porsche and Feich families. It owns 40% of the smart transport and logistics company PTV Planung Transport Verkehr AG – but mainly controls (53.5%) the Volkswagen car group (families also have direct exposure to the car group with a 31% share). Both the holding company and the car group are companies traded in Europe. Shares of the holding company are up 11.5% in Frankfurt.
Under the Volkswagen Group there are several car brands except for the one the group is named after. These include Audi, Seat, Bentley, Bugatti, Skoda, Lamborghini – and Porsche AG. Now as stated the owners want to issue the last on the list.
The parties report that the framework agreement is not yet final and is subject to the approval of the boards of directors of each of the companies. According to the holding company Porsche SE, it will buy shares of the issued car company from the Volkswagen Group, alongside the share issue to the public.
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