Porsche IPO Moves Ahead as Parent VW Looks to Defy Downturn
- VW CEO says Porsche very robust in difficult market conditions
- Listing would hand back direct influence to billionaire clan
A Porsche 718 Spyder automobile at a Porsche showroom in Berlin.
Photographer: Liesa Johannssen-Koppitz/BloombergThis article is for subscribers only.
Volkswagen AG is pushing ahead with its plan to list a minority stake in the Porsche sports-car maker despite gyrating markets, paving the way for what could be one of Europe’s biggest initial public offerings.
The manufacturer is planning the initial public offering as early as this month, unless markets worsen significantly, VW said late Monday, targeting to finalize the listing by the end of the year. The move will direct funds to Europe’s biggest carmaker to foot the staggering cost of electrification and software development and return greater influence to the billionaire Porsche-Piech clan over the luxury automaker.