• Volkswagen raised 19.5 billion euros through Porsche listing, for focussing on EV segment
• QIA, Norges Bank Investment Management, T. Rowe Price, and ADQ are Cornerstone investors for IPO
• Share Capital includes into 911 million shares, 50% of which are Preferred Shares and 50% are ordinary bearer shares

Porsche AG started Trading started  today at 29. Sep 22. Company is listed in Frankfurt Stock Exchange. Share touched a high of €86.78 and low of €82.38

Porsche is now the fourth-largest automotive company by valuation after Volkswagen, Tesla, and Toyota, and the second-largest listing since Deutsche Telekom’s initial public offering in 1996.

Porsche AG’s share capital has been divided into 911 million shares, 50% of which are Preferred Shares and 50% are ordinary bearer shares. The Company’s share capital is 911,000,000 (455,500,000 ordinary shares (not listed) and 455,500,000 preferred shares (listed).

🏎️ The race is on! #PorscheIPO #ListedInFrankfurt Our opening share price is € 82,50
Read more about the news here: https://t.co/i2bXB6thIx pic.twitter.com/6GNLLiAVCd

— Porsche Newsroom (@PorscheNewsroom) September 29, 2022

Volkswagen raised 19.5 billion euros through its IPO to fund its expansion and electrification efforts. Volkswagen has set a goal of having EVs account for a quarter of its sales by 2026, which will be aided by the introduction of 16 battery-electric models.

In 2021, the company recorded sales revenue of €33.1 billion, a return on sales of 16%, an automotive EBITDA margin of 24.5%, and a net cash flow margin of 12.1%.

From the racetrack to the trading floor: Today, #Porsche will become a public company! @BoerseFrankfurt. #PorscheIPO #DrivenByDreams pic.twitter.com/aDSBWGRbmC

— Porsche Newsroom (@PorscheNewsroom) September 29, 2022

Cornerstone investors include QIA, Norges Bank Investment Management, T. Rowe Price, and ADQ. The Qatar Investment Authority (QIA)  agreed to buy 4.99% of Porsche AG’s preferred share capital as a cornerstone investor in the IPO, for a total of EUR 1.74 billion to EUR 1.88 billion, depending on the final pricing. Furthermore as cornerstone investors, Norges Bank Investment Management, T. Rowe Price, and ADQ have committed to subscribe for Preferred Shares totaling EUR 750 million, EUR 750 million, and EUR 300 million, respectively.

The issue has opened on September 20, 2022. Indians can now buy Porsche stock on the international exchange, i.e. INX is headquartered in Ahmedabad, Gujarat, at Gift City.

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