Porsche will hold an IPO at the end of September

Volkswagen is planning an initial public offering (IPO) of luxury sports car maker Porsche. It is noted that the company is valued at $70.1 billion to $75.1 billion.

It is also known that Volkswagen values ​​Porsche preference shares at a price of 76.50 to 82.50 euros per share. If the share placement takes place at the upper end of the price range, it could be the second largest IPO in German history and the third largest in European history.

Porsche shares will be traded on the Frankfurt Stock Exchange from September 29, Volkswagen said.

As part of the listing, Porsche's 911 million shares will be divided into 455.5 million preferred shares and 455.5 million ordinary shares. Up to 113.8 million non-voting preferred shares will be offered during the IPO. The sovereign funds of Qatar, Abu Dhabi and Norway and the T. Rowe Price investment fund will apply for the purchase of preferred shares up to 3.68 billion euros as the largest investors.