Official: Porsche to go public within weeks

It’s official; Porsche will become a publicly listed enterprise within the next month or so, when up to 25 per cent of the fabled German sports car company’s non-voting preferred shares will be offered to private and retail investors “in selected European countries”.

Announced overnight, the green light for the public float was given by the Volkswagen AG Board of Management and Supervisory Board, before Porsche is listed on the Frankfurt stock exchange in either the closing stages of September or early October.

“In the course of the potential IPO, it is planned to place a total of up to 25 per cent of the preferred shares with investors,” Volkswagen AG said in a statement.

“In this context, Porsche Automobil Holding SE would acquire 25 per cent plus one of the ordinary shares of Porsche AG from Volkswagen AG – at the placement price of the preference shares plus a premium of 7.5 per cent.”

In addition to providing the Volkswagen Group with a handsome injection of capital with which to continue pursuing its battery-electric and autonomous vehicle development, the company says a successful public listing would simultaneously provide Porsche with more agility and “entrepreneurial freedom”.

Volkswagen AG would of course still be the majority shareholder in Porsche, meaning the collaboration between in-house brands would continue when it comes to platform sharing and other new technologies including zero-emission powertrains and autonomous driving.

“The automotive industry is transforming at a rapid pace,” said Volkswagen AG chief financial officer, chief operating officer and member of the Group Board of Management.

“With its 10 strong Group brands, Volkswagen intends to continue to occupy a leading position in the market for battery-electric, increasingly automated and software-based mobility.

“The IPO would give the Group more entrepreneurial flexibility to implement the New Auto strategy and generate tangible tailwind for the transformation towards an integrated mobility company.”

At this stage it’s unclear whether Australians will be able to secure a slice of arguably the world’s most famous sports car maker.