Porsche Automobil Holding SE (Porsche SE) has entered into an agreement on principles with Volkswagen AG, which forms the basis for a possible initial public offering of Porsche AG.
According to the current agreement, in the event of an IPO, the share capital of Porsche AG will be divided into 50 percent preference shares (Vorzugsaktien) and 50 percent ordinary voting shares (Stammaktien), with approximately 25 percent of the preference shares being placed in the capital market. In connection with the potential IPO, Porsche SE would acquire 25 percent plus one share of the ordinary voting shares of Porsche AG from Volkswagen AG.
Volkswagen would use the proceeds from a possible IPO of Porsche AG for the financing of the industrial and technological transformation of the Volkswagen group as well as further growth.
Listed on the Frankfurt Stock Exchange (with its shares included in the DAX40 index), Porsche SE holds the majority of ordinary shares in Volkswagen AG. Volkswagen Group is one of the world’s leading automobile manufacturers comprising of brands like Volkswagen, Audi, Porsche or Bentley, among others.
The S&C team advising Porsche SE includes Carsten Berrar, Konstantin Technau and Stephan Rauch.