Porsche Plans To Launch IPO In September, Targets $85 Billion Valuation | Carscoops carscoops
, has also expressed interest, as has Bernard Arnault, boss of LVMH, the group behind brands like Dior, Fendi, Moët and Louis Vuitton.Former Porsche boss Oliver Blume becomes VW Group CEO in September
This booming “shadow” order book is positive news for Porsche and will come as some relief after news earlier this year that some investors were reluctant to jump intoover concerns about corporate governance. Some high profile U.S. and European asset managers that might normally invest in a brand like Porsche are worried about exactly how much influence Volkswagen has over the carmaker, fears hardly assuaged by the recent appointment of former Porsche boss Oliver Blume as the new VW Group boss.
Under the terms of the IPO, Volkswagen will be the biggest shareholder in Porsche, and investors would be able to buy shares, but those shares won’t carry voting rights. Some potential investors have questioned, while others are simply being cautious about IPOs due to the instability in the market attribute to the conflict in Ukraine and rampant inflation.
Porsche will be hoping it fares better than Polestar, whose IPO earlier this year was much-hyped. The company performed well on its first day of trading but
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