Reviews Porsche share celebrates the stock exchange debut: Porsche IPO grow-Porsche share after a strong first course Volatil

13:20  29 september  2022
13:20  29 september  2022 Source:   finanzen.net

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The highly anticipated IPO of the sports car manufacturer Porsche has taken place. Already in advance, a lively investor interest was emerging, with the first course Porsche underpinned his claim to a German mega-IPO.

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• Porsche starts at the stock exchange

• First course marked at 84 euros. Part of it is now publicly tradable on the stock exchange. A total of 113,875,000 voting rights of the sports car manufacturer were issued. The titles were offered in a price range between 76.50 and 82.50 euros. Finally, the Porsche share was placed on the market at the top of the Bookbuilding range, the share price was set at 82.50 euros on Wednesday. According to Porsche, the lion's share of the shares went to large investors. Private investors only received 7.7 percent of the placement volume. Because of the oversubscribe of the offer, not all private shareholders could have been taken into account, it said. Already in advance, four anchors, including VW major shareholders Qatar, had secured almost 40 percent of the shares.

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The first course of the Porsche share was again 1.81 percent above the issue price at 84 euros. However, the difficult market conditions are noticeable in the course of the trade - the Porsche share fluctuates back and forth between the issue price and a course above the first course. Based on the first prize, Porsche reached a market capitalization of around 76.5 billion euros. At the start, the Stuttgarters were more valuable than


with around 58 billion euros and BMW with 47 billion euros. The group mother Volkswagen was still over 86 billion euros on Thursday.

Largest IPO since IPO of Deutsche Telekom

, a lively investor interest had already emerged in advance. At the start of the drawing period on September 20, the banks accompanying the IPO had announced that the books were "overwhelmed over the entire price range". With the output of the shares at the top of the price range, there was a placement volume of 9.39 billion euros. The Porsche IPO is the largest German new issue since the IPO of Deutsche Telekom in 1996, which at that time flushed 9.65 billion euros into the cash registers of the telecommunications group. But the Porsche Group Mother

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has occupied significantly more capital as part of the Porsche IPO. As planned, 25 percent of the ordinary shares (plus a share) were sold to the VW major shareholder


Holding, which secured further income of around ten billion euros for the Wolfsburgers. The


group wants to invest the money in electromobility and digital, where billions of costs can be expected. The Stuttgarters hope for more independence from the walk to the parquet. In 2008/2009 the Stuttgarters tried to take over VW - that failed and the Lower Saxony swallowed the sports car maker. Since then, Porsche has been a return pearl in the VW group. VW and Porsche leadership, workforce and shareholders benefit from the IPO In addition to the VW group, there are other profiteers of the Porsche IPO. In particular, the leadership levels of Porsche and VW can hope for an rain . According to reports, Volkswagen and Porsche boss Oliver Blume and his Porsche board colleagues wave millions of stocks in the event of a successful IPO of the sports car manufacturer. An IPO bonus of around 6,600 euros per employee is planned for the Porsche workforce. Investors could benefit from Porsche -IPO via a special dividend of 49 percent of the total proceeds from the IPO and regular shares - this should be decided at an extraordinary general meeting in December. Management of Porsche and VW with IPO satisfied "Today a big dream comes true for ourselves," said Porsche boss Oliver Blume on Thursday at the Frankfurt Stock Exchange, which has also been at the forefront of Volkswagen since September. VW CFO Arno Antlitz said: "We have proven today: Volkswagen can-also in a challenging market environment."

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