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Volkswagen plans IPO of Porsche to ignite EV shift momentum

Bloomberg
Bloomberg2/23/2022 12:15 AM GMT+08  • 5 min read
Volkswagen plans IPO of Porsche to ignite EV shift momentum
The IPO could happen in the second half of this year.
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Volkswagen AG is preparing an initial public offering of Porsche, seeking a listing of its most profitable asset to help boost the parent’s valuation and fund the push into electric vehicles.

Under a draft plan named “Phoenix,” about 25% of non-voting preferred shares could be sold to external investors, according to two people familiar with the plans. The Porsche and Piech families would retain a blocking minority stake of 25% plus one share, the people said.

While the timing of a sale remains in flux, the IPO could happen in the second half of this year, they said, speaking on condition of anonymity.

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