VW Battery Division Could Float Next After Porsche Makes Stock Market Splash With $72 Billion Valuation | Carscoops carscoops
That €75 bn figure is slightly lower than thesome analysts had predicted, but also higher than other pessimistic predictions, and makes Porsche almost as valuable as Volkswagen Group itself, which is worth just over €80 billion . Shares in the sports car brand opened at €82.50 but climbed in the first hours after the listing, reaching €86.50.
Only 12.5 percent of the Stuttgart-based marque was listed on Germany’s Frankfurt stock exchange and none of the available shares carried voting rights. Some market experts had also expressed concern ahead of the listing overas head of both Volkswagen and Porsche, but pre-orders for the shares were still massively oversubscribed.
The Porsche IPO raised €19.5 billion , half of which goes to VW, who will use it to fund the development of the next generation of electric cars and make sure it’s in a solid position to tackle Tesla and EV brands from China. And to raise even more cash for that venture VW is considering floating its PowerCo battery division,
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