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Volkswagen Plans IPO of Porsche, as EV demand soars!

Volkswagen AG is preparing an initial public offering of Porsche, seeking a listing of its most profitable asset to help boost the valuation and fund the push into electric vehicles.

Under a plan code-named “Phoenix,” the carmaker and Porsche Automobil Holding SE, the billionaire Porsche and Piech family’s main investment vehicle, have sketched out a framework that navigates VW’s structure.

The tentative listing, estimated to value the sportscar brand at as much as 85 billion euros ($96 billion) by Bloomberg Intelligence

*Porsche tweet on EV model

While details and timing remain in flux,

The IPO could happen in the second half of this year and might include a special dividend to help the Porsche and Piech family, who own 53% of VW voting shares

A spokesman for VW declined to comment, as the company’s shares surged as much as 11% after the announcement on a possible IPO outline.

Europe’s biggest carmaker has been pushing for years to adopt a less centralized corporate structure to become more attractive and step up its challenge to Tesla Inc.





source: Bloomberg/VW
photo:Porsche inc