Volkswagen is considering a medium-term IPO of its subsidiary Porsche to add value to the Group, according to manager magazin. The automobile manufacturer considers selling a maximum of 25 percent of the shares on the stock exchange for about 20 to 25 billion euros value.
- Volkswagen boss Herbert Diess has long been dissatisfied with the company’s share price as he fears financial disadvantages compared to competitors such as Tesla with higher ratings.
- Porsche’s IPO simulation comes at a time Volkswagen explores accelerated electrification, with plans to have 70 percent of the Group’s cars having purely electric drives by 2030.
- Volkswagen Audi’s Artemis electrical project, planned for 2024, is also being redesigned.
Volkswagen stock is currently gaining. VOW3 is up 0.91%.