Scholarship

Porsche on the inventory market: the final massive blow of the Porsche-Piëch household

Volkswagen Group bra. A brand with record profits, whose outrageous success fascinates all manufacturers, Porsche AG will be listed on the stock exchange before the end of 2022. The first for the brand of the Volkswagen Group, which has twelve of them. The executive board of constructors Wolfsburg gave the green light on Monday evening. And that, while the president of Volkswagen and Porsche has been the same since 1er September. Indeed, Oliver Blume, 54, retained his former position at the head of Porsche as he assumed the presidency of the Lower Saxony consortium. Temporary accumulation, time… IPO.

The launch will be held “at the end of September or at the beginning of October”, according to the announcement of Porsche AG, with the intention of “floating” part of the Porsche capital, an introduction to the public marketing of Porsche. stocks. It’s a new attempt for the company that had no luck: it actually revealed its project… on February 24, the day of the Russian army’s invasion of Ukraine.

The sports car specialist (Porsche AG) is wholly owned by the Volkswagen Group, which is controlled by a financial holding called… Porsche SE, through which the founding family of Porsche-Piëch has the absolute majority of voting rights (54%). Far ahead of the country of Lower Saxony (20%).

The capital of the Porsche AG brand is divided into 50% preferred shares, which offer an increased dividend but without voting rights, and 50% ordinary shares with voting rights. Institutional investors will be able to subscribe up to 25% of preferred shares, at an as yet undetermined price. At the same time, the Volkswagen Group approved the sale of “25% plus one share” of Porsche AG’s common stock to the controlling holding… Porsche SE. The goal: to further strengthen the control of the Porsche-Piëch family, who will suddenly hold a blocking minority in the firm originally founded as a design office by their ancestor Ferdinand Porsche in 1931.

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