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Porsche (OTCPK:POAHY) continues to move ahead with its IPO plans and has lined up investor interest, according to Bloomberg.
Sources indicated that the investors’ interest in Porsche is at a valuation of between $60B and $85B. That valuation mark is a bit of an eye-opener with Ford’s (F) market cap at $65B, Honda Motor’s (HMC) market cap at $49B, and Ferrari’s (RACE) market cap at $38B. T. Rowe Price and Qatar Investment Authority are said to be among those interested in being early subscribers in the IPO.
The German automaker is expected to formally announce its intention to float shares in Frankfurt after the supervisory approves the plan in early September.
Porsche (OTCPK:POAHY) is a subsidiary of Volkswagen AG (OTCPK:VLKAF) and is a part of the bullish thesis on the stock.
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Image and article originally from seekingalpha.com. Read the original article here.