UNLEASHED 'POTENTIAL': Porsche issuing 911 million shares in IPO to salute iconic model
The valuation would make it worth roughly twice that of Ferrari, which was turned into an independent company by Fiat in 2015.
Volkswagen Chief Executive Oliver Blume is set to run the new company, officially called Dr. Ing. h.c. F. Porsche AG.Volkswagen will offer preferred shares to the public in Germany, Austria, France, Italy, Spain and Switzerland. "Porsche is aiming to unleash its full potential by leveraging its many strengths, including: i) its iconic brand and racing heritage, ii) structural growth environment, iii) superior customer experience, iv) innovative battery electric vehicle technologies, v) commitment to sustainable luxury, vi) people-centric performance culture as well as vii) compelling financial performance," an announcement on the IPO said.Trading is expected to begin on Sept.
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