9:31 am, August 27, 2022
Porsche could begin proceedings to list itself on the stock market as soon as next month after receiving interest from several parties including a sovereign wealth fund.
The sports car brand has attracted pre-orders that exceed the shares on offer, according to The Times.
The valuation is between €60bn (£50.8bn) and €85bn (£72bn).
Bloomberg said Porsche plans to announce its flotation in Frankfurt in ‘the first week of September’, following the company’s board signing off the plan.
Investors including the Qatar Investment Authority and T Rowe Price, of the United States, have apparently indicated interest in Porsche, while the company has also been evaluating interest from Red Bull founder Dietrich Mateschitz, among others.
If Porsche’s manoeuvres towards flotation are successful, it’s being seen by the finance sector as a sign of of confidence in the stock market.
Earlier this year, Lotus announced plans to potentially float its EV Lotus Technology division in a move that would value it at £5-6bn.
