Porsche AG’s adventure has begun on the Frankfurt stock market, the highest European listing in the last ten years. Closing down after the rises in the early hours, on a very negative day for world stock exchanges, especially in the automotive sector
It is not easy to set sail when the sea is stormy. Porsche AG began its venture into the stock market at an extremely difficult time given the international turmoil in the political, energy, economic and financial spheres. But the trip had been planned for some time and medium-term expectations foresee substantial gains, which will finance investments towards electrification. A necessary strategy. The automobile company from Zuffenhausen (controlled by the Volkswagen Group, which in turn is controlled by the company Porsche SE, a financial holding not to be confused with Porsche AG) on 29 September 2022 inaugurated its activity as a company listed on the Frankfurt Stock Exchange. The capital was divided into 911 million shares, the meaning of that number is widely understood. The initial listing was 82.50 euros per share, which is equivalent to a total value of around 75 billion euros: not far from the capitalization of the entire Volkswagen Group, around 80 billion. In the morning, the title reached a maximum price of 86.78 euros. Then the descent began, a settlement that ended at 82.58 euros at the close of trading. On a day that saw the major world lists suffer not a little, especially among the stocks in the automotive sector. 113.9 million shares were placed, equal to deposits of 19.5 billion euros. The goal to finance electrification is 52 billion.
Porsche on the stock exchange: the future
–
“Today a great dream is coming true”, commented Oliver Blume, CEO of Porsche AG and the Volkswagen Group, on the occasion of the listing of Porsche AG on the Frankfurt Stock Exchange, which started on 29 September 2022. A capitalization estimated at 75 billion euros it is impressive. But expectations go much further. Volkswagen CFO Arno Antlitz believes the brand could exceed 100 billion by 2026. Porsche’s location is the largest in Europe in the past decade. The industrial goal is to reach 80% of electric cars of the total units sold in 2030.