Porsche on the stock exchange: The last blow of the Porsche-Piëch family at the helm of Volkswagen

Porsche on the stock exchange: The last blow of the Porsche-Piëch family at the helm of Volkswagen

The nugget of the Volkswagen Group. Brand with record profits, whose outrageous success fascinates all manufacturers, Porsche AG will go public in 2022. A premiere for a twelve-member label of the Volkswagen Group. The board of directors of the Wolfsburg designer gave the green light on Monday evening. And that, while the President of Volkswagen and Porsche has beenis September. Indeed, Oliver Blume, 54, has retained his former position at the helm of Porsche while assuming the chair of the Lower Saxony consortium. A preliminary accumulation, the time of the… IPO.

According to Porsche AG’s press release, the starting signal is to be given “at the end of September or beginning of October”, with the intention of “floating part of Porsche’s capital”, a prelude to the public placement of shares. It’s a fresh try for the unlucky company: they actually unveiled their project…on February 24, the day the Russian army invaded Ukraine.

The sports car specialist (Porsche AG) is 100% owned by the Volkswagen Group, which in turn is controlled by a financial holding called… Porsche SE, over which the founding family Porsche-Piëch holds the absolute majority of the voting rights (54%). Far ahead of the state of Lower Saxony (20%).

The capital of the Porsche AG brand was divided into 50% preferred shares with increased dividends without voting rights and 50% ordinary shares with voting rights. Institutional investors can subscribe for up to 25% of the preferred shares at an as yet unspecified price. At the same time, the Volkswagen Group approved the sale of “25% plus one share” of the ordinary shares in Porsche AG to the control holding… Porsche SE. The goal: to further strengthen control over the Porsche-Piëch family, who suddenly held a blocking minority in the company founded by their ancestor Ferdinand Porsche in 1931, initially as a design office.

Reference: www.challenges.fr

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