European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

Porsche Automobil Holding  / Event-Driven

<ul>
<li>Volkswagen aims for an IPO of Porsche AG (operating company). 25% of preferreds will be placed and 25% of ords sold to Porsche Automobile Holding SE (combined, 25% equity capital).</li>
<li>Thought a holding chain, the Pïech and Porsche families will directly control 25% of the votes of Porsche AG and 39.975% indirectly (total of 64.975%), with just a 24.275% economic interest.</li>
<li>Porsche Automobile Holding SE will cover c.30% of the cost of its stake through the extraordinary dividend that Volkswagen will pay. It also gets the ords at a friendly price.</li>
</ul>


Volkswagen aims for an IPO of Porsche AG (operating company). 25% of preferreds will be placed and 25% of ords sold to Porsche Automobile Holding SE (combined, 25% equity capital).
Thought a holding chain, the Pïech and Porsche families will directly control 25% of the votes of Porsche AG and 39.975% indirectly (total of 64.975%), with just a 24.275% economic interest.
Porsche Automobile Holding SE will cover c.30% of the cost of its stake through the extraordinary dividend that Volkswagen will pay. It also gets the ords at a friendly price.


Intention to Float Porsche AG: A Good Deal for Porsche Automobile Holding SE

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

Dr Ing hc F Porsche  / Equity Capital Markets

<ul>
<li>Porsche is getting ready for an IPO to be completed by the end of this year. However, the final decision on the IPO is still subject to market conditions.</li>
<li>The expected valuation of the Porsche IPO is 60 billion to 85 billion euros ($60 billion to $85 billion).</li>
<li>Qatar Investment Authority has already committed to a 4.99% stake in the Porsche IPO. </li>
</ul>


Porsche is getting ready for an IPO to be completed by the end of this year. However, the final decision on the IPO is still subject to market conditions.
The expected valuation of the Porsche IPO is 60 billion to 85 billion euros ($60 billion to $85 billion).
Qatar Investment Authority has already committed to a 4.99% stake in the Porsche IPO. 


Germany

Dr. Ing. h.c. F. Porsche Aktiengesellschaft manufactures passenger vehicles. The Company offers sports cars, SUVs, and other motor vehicles, as well as provides finance services. Dr. Ing. h.c. F. Porsche serves customers worldwide.

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Dr Ing hc F Porsche (P911 GR)

Intention to Float Porsche AG: A Good Deal for Porsche Automobile Holding SE

At the lower end, VW could get €7.9 bn to invest in electrification and Porsche Automobile Holding SE could get 30% of its investment in ordinary...

Jesus Rodriguez Aguilar

Initial Thoughts on the Porsche IPO

Porsche is getting ready for an IPO to be completed by the end of this year. The expected valuation of the Porsche IPO is 60 billion to 85 billion...

Douglas Kim

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