Volkswagen to List Porsche in One of Biggest IPOs in Years

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Porsche models astatine a showroom successful Berlin earlier this year.

Photo: Liesa Johannssen-Koppitz/Bloomberg News

BERLIN— Volkswagen AG VOW -4.25% said Monday that it would database its iconic sports car maker Porsche AG POAHY 0.57% successful one of the biggest archetypal nationalist offerings successful years and a important trial of investors’ assurance arsenic precocious ostentation and the warfare successful Ukraine enactment a damper connected the planetary economy.

The offering could worth Porsche astatine arsenic overmuch arsenic 85 cardinal euros ($84 billion), according to expert estimates, injecting caller currency into VW’s coffers that executives accidental volition assistance the institution bankroll its modulation to electrical vehicles and self-driving cars.

VW Chief Finance Officer Arno Antlitz said successful an interior institution newsletter this week that the Porsche IPO was cardinal to the car maker’s strategy “because the imaginable proceeds would springiness america much flexibility to further accelerate the transformation.”

The offering volition instrumentality spot successful 2 parts. The Porsche household heirs volition get 25% positive 1 stock of the company’s voting stock, giving them an effectual blocking number implicit large decisions connected the Porsche supervisory board.

The IPO volition dwell of 25% of Porsche’s nonvoting preferred stock.

The German car elephantine said it would present statesman gathering idiosyncratic investors to measurement request and find the terms for the shares, which could statesman trading by the extremity of the month.

Write to William Boston astatine [email protected]

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