Volkswagen may be trying to attract retail investors to its IPO of luxury automaker Porsche

Volkswagen is considering selling stakes in its IPO of sports car maker Porsche to retail investors across Europe in a bid to spark customer enthusiasm for the brand, according to people familiar with the matter.

Europe’s biggest carmaker is in talks with local banks about offering a slice of shares in the Frankfurt IPO to retail customers in countries including Germany, Austria, Switzerland, France, Spain and Italy, said the people, who asked not to be identified during confidential deliberations.

It could offer such investors less than 5 percent of the shares, one of the people said.

Deliberations are ongoing and Volkswagen has not yet decided whether to go ahead with the retail plan if it goes ahead with the IPO.

Representatives from Porsche and Volkswagen declined to comment.

Volkswagen’s board of directors and supervisory board met on Monday to discuss whether the share sale, which could become one of Europe’s biggest ever, should go ahead later this month or early next month.

Bankers and investors are eagerly awaiting the decision, hoping the listing could reopen the IPO market, which has been largely closed amid the slowing economy, rampant inflation and rising energy costs.

To try to counter these headwinds, Porsche has pooled interest from big-name investors such as T Rowe Price and Qatar Investment Authority, with a valuation between €60 billion and €85 billion.

Listings traditionally focus on large, institutional clients or wealthy government and wealthy investors, but rarely seek private buyers outside of the listing country.

With Porsche fan clubs and loyal buyers spread across Europe, it is believed that a retail offering could generate additional excitement for the transaction.

https://www.independent.ie/business/world/volkswagen-may-seek-to-tap-retail-investors-for-its-stock-flotation-of-luxury-carmaker-porsche-41963644.html Volkswagen may be trying to attract retail investors to its IPO of luxury automaker Porsche

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button