Just recently, Porsche was launched! Recently, Volkswagen Germany announced that its Porsche Automobile has officially registered on the Frankfurt Stock Exchange in Germany, and has determined that the initial listing price is 82.5 euros per share, with an opening price of 84 eur

Just recently, Porsche was launched!

Recently, Volkswagen Germany announced that its Porsche Auto has officially logged into the Frankfurt Stock Exchange in Germany, and has determined that the initial listing price is 82.5 euros per share, and the opening is quoting 84 euros per share.

According to the sales materials released at the time of the issuance of Porsche shares, the subscription price of 82.50 euros per share is the upper limit of its issue price guidance range. This listing, Porsche will raise about 9.4 billion euros by issuing 113.9 million shares, which means that Porsche's market value will reach 75 billion euros, or approximately 524.2 billion yuan.

In order to pay tribute to Porsche's classic 911 sports car , Volkswagen has created 911 million Porsche shares, including .4555 billion preferred shares and 455.5 million common shares.

Not only that, Porsche's stock code is P911, also to pay tribute to this legendary sports car.

Porsche raised 9.4 billion euros in this listing, which will become the third largest IPO since General Motors went public in 2010. In the entire automotive sector, Porsche's market value will rank behind Tesla (US$901.8 billion), Toyota (US$223.3 billion) and BYD (about 97.2 billion), becoming the fourth largest automobile listed company in the world's market value.

Interestingly, in addition to the two major shareholders of Volkswagen and Porsche family, Norwegian sovereign wealth fund Norwegian central bank investment management company, Qatar investment bureau , investment institution T.RowePrice, Abu Dhabi sovereign fund, etc. participated in Porsche's IPO.

Of course, these consortiums participating in the IPO are also very smart. According to the prospectus instructions, Porsche delivered a total of 300,000 new cars worldwide in 2021 (about 3.3% of the Volkswagen Group ); revenue reached 33.1 billion euros and profit reached 5.3 billion euros (about 27% of the Volkswagen Group).

However, in 2022, this number has changed. In the first half of this year, Porsche delivered 41,000 new cars in the Chinese market, a year-on-year decrease of 16%, and 145,900 new cars were delivered worldwide, a year-on-year decrease of 5%. I don’t know what kind of answer Porsche can give shareholders this year.