Volkswagen's supervisory board is due to meet on Sunday to move forward with the IPO of its Porsche brand, which will comprise 911 million shares in a nod to its most famous model, two sources close to matter said.
Stock exchange prospectus expected on Monday - sourcessupervisory board is due to meet on Sunday to move forward with the IPO of its Porsche brand, which will comprise 911 million shares in a nod to its most famous model, two sources close to matter said.
Investor roadshows are due to complete this Friday, several sources said, allowing time for senior executives to hold discussions over the weekend before opening the book building process early next week. "One has to be careful. There are still pitfalls if the market continues to slide," the source said. But due to the anchor investors involved, Porsche is confident of reaching a 70-80 billion euro valuation, this source added.
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