Porsche IPO plays an
with the IPO of the sports car subsidiary Porsche, Volkswagen collects almost 9.4 billion euros. The preferred shares are output for investors for 82.50 euros each, the price is at the top of the span of 76.50 to 82.50 euros per share. This announced VW after the end of the drawing period. © Boris Roessler/dpa The trading hall of the German Stock Exchange in Frankfurt, which is decorated for the Porsche IPra.
The Porsche IPO is once again employed by the shareholders of the parent company Volkswagen at an extraordinary general meeting. At the meeting in Berlin, the shareholders should also officially decide on public trade, which has been running since autumn with part of the vocal voting Porsche preferred shares. © Bernd Weißbrod/dpa The logos of VW and Porsche in front of the Porsche Center in Stuttgart-Zuffenhausen.
is also the decision on the announced special dividend on the agenda. Some of the smaller owners already criticized their height and the proposed payment of the time before the session.
largest German IPO since 1996
On September 29, the papers of Porsche AG had started after months of preparation on the Frankfurt financial market. The placement of one eighth of the shares in the operational business of the sports and off-road car manufacturer was flooded by around 9.1 billion euros at the beginning. The money is primarily intended to pay further investments in electromobility, software and networking techniques. It was the largest German IPO since Telekom 1996.
DAX starts trading on Frankfurt stock exchange with a slightly negative tendency
On Thursday, the German leading index gives something. The focus on the Frankfurt Stock Exchange Parquet is particularly a newcomer. © provided by Finance.net Daniel Roland/AFP/Getty Images The DAX started the trading day 0.33 percent lower at 12,143.21 points. The attempted stabilization in the DAX stalls again on Thursday. He cannot initially record the positive trend from Wall Street.
also belonged to the plan that the VW main shareholder - the Holding Porsche (PSE) controlled by the Porsche/Piëch families - a quarter plus a share of the voting Porsche tribes is given . The PSE is said to have a blocking minority in central decisions. It spent around 10.1 billion euros for the shares.
The VW Group was recommended to pay the shareholders a special distribution of 49 percent of the gross-over-overall proceeds from the IPO of preferred and the sale of the regular shares. According to the predetermined planning, this would be 19.06 euros. The works councils also acted extra premiums for the employees: at Porsche it is up to 3000 euros, for the colleagues in the Volkswagen House tariff and at VW in Saxony 2000 euros.
Deka criticizes the amount of the distribution
dispute could give in pronunciation in the case of details of dividend policy. The Sparkassen fund subsidiary Deka - surprisingly for a shareholder representative - finds the "far too high" planned by the company. Volkswagen now needs his money primarily for the further renovation towards e-mobility and digitization, according to the argument.
DAX on Frankfurt stock exchange in the open case - again well below 12,000 marks
On Thursday, the German leading index gives in. The focus on the Frankfurt Stock Exchange Parquet is particularly a newcomer. © provided by Finanzen.net Raymond Boyd/Getty Images The DAX started the trading day 0.33 percent lower at 12,143.21 points. In the further course, it goes deeper and deeper on red terrain: the DAX currently loses 2.2 percent to 11,915.40 points. Europe's stock exchanges expand the losses on Thursday afternoon and mark new daily lows.
The protection community of investors (SDK), on the other hand, insists that the special dividend will flow this month and thus in the calendar year 2022 - and not only in January, as desired by the major shareholder in Lower Saxony. It justifies this with possible tax disadvantages.
Prime Minister Stephan Weil (SPD), as a member of the VW supervisory board, made it clear before the Annual General Meeting that he stayed with his line. "It was agreed relatively early between all those involved that the dividend should be paid out at the beginning of the year (2023)," he told the German Press Agency. The income for the budget is also not as extensive as some suspect: "We won't see any big blessing in the state budget." The Volkswagen Foundation automatically receives a little more than half of the money. "The country also benefits from this because research projects are being promoted."
The mischievous little prince Julian of Sweden steals the show from his father champion
Prince Carl Philip of Sweden won the last race of the Porsche Sprint Challenge Scandinavia on Saturday. But his little prince Julian stole the show. © supplied by Paris Match high as three apples, the little prince Julian of Sweden was this Saturday October 1, 2022 on the Mantorp circuit, southwest of Stockholm.
consolidate large-scale families their power?
The funds from the Porsche IPO are also important for a stable location policy, so because "Volkswagen now has the opportunity to invest from a strong cash register so that modern production facilities will continue to be in Lower Saxony". Critics complain about the construction of the IPO that the large-scale owners of the PSE consolidate their power in the group of companies.
With the dividend, you could also counter -finance part of the billion dollar expenses for the purchase of the regular shares. Basically, smaller shareholders have been complaining for a long time that they usually had very little influence over the PSE, the state of Lower Saxony and the third largest shareholder Qatar.
is also likely to be discussed about the performance on the stock exchange. While the market capitalization of Porsche AG now rose to over 93 billion euros, VW AG was recently just under 80 billion euros. However, the Wolfsburgers are still of the opinion that a significant increase in value can succeed in the medium term.
Börsengäln in difficult environment sank worldwide .
turbulence on the stock markets and the economic consequences of the Ukraine War have dampened the interest in stock exchange tours this year. According to data from the auditing and consulting company EY, 1333 companies dared to go to the floor and thus 45 percent less than in 2021. The emission volume fell by $ 180 billion by $ 169 billion). © Ahn Young-Joon/AP/dpa The largest IPO was the debut of the South Korean battery manufacturer LG Energy Solution.