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Porsche (OTCPK:POAHY) is looking to IPO as soon as possible, according to an interview given by finance chief Lutz Meschke to Italian daily Il Sole 24 Ore.
“We want to have the IPO ready by the end of September, beginning of October,” he told the news outlet. “The sooner, the better.”
The new statements reinforce previous indications by Volkswagen (OTCPK:VWAGY) that it will pursue an IPO of the preferred shares as early as late September. According to analysts, the new listing could value the company at up to €85B, making it one of Europe’s biggest blockbusters ever, while also injecting much-needed capital into Volkswagen (OTCPK:VWAGY).
Plans for an IPO of the Porsche brand have been under review since February, with updates provided into the summer. The most recent update on the specific details of the planned IPO was provided on September 5.
Read more on the recent CEO transition at Volkswagen.
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Image and article originally from seekingalpha.com. Read the original article here.