The stock exchange hosted Porsche Tejarat News
According to Tejarat News, the German automobile manufacturer Volkswagen officially announced in its new statements that it has decided to enter a part of Porsche shares in the Frankfurt stock market by the end of this year.
According to the report of Madar Ekhtitoni; It is stated in this statement: Based on the decision of the board members of the Volkswagen company, this company has decided to enter a part of the shares of the “Porsche” product by the end of September and the beginning of October 2022 as an initial offering in the Frankfurt Stock Exchange.
If the initial public offering is successful and the rules of the Frankfurt Stock Exchange are fully complied with, Volkswagen will hold an extraordinary general meeting in December 2022 and decide on a 49% dividend distribution among shareholders.
Meanwhile, this automobile giant was ready for its initial public offering on February 24, but postponed the offering due to the conflicts between Russia and Ukraine.
Oliver Blum, CEO of Volkswagen, said in this regard: This is a historic moment for Porsche, and in this way it can have more independence from Volkswagen and become the richest sports car in the world.
About Volkswagen Automobile Company
Volkswagen is a German multinational corporation that designs, engineers, manufactures and distributes a variety of automobiles, commercial vehicles, motorcycles, internal combustion engines, and turbomachinery.
Since 2011, Volkswagen has been the largest automobile company in Europe and is considered the second largest automobile manufacturer in the world after Toyota.
In 2016, this company was able to overcome its competitor (Toyota) in terms of sales, and in 2017, it retained the title of the largest car manufacturer in the world with the sale of 10.7 million cars.
Volkswagen Group owns Audi, Porsche, Bentley, Lamborghini, Volkswagen, Seat, Skoda, Italdesign and Ducati brands. The group also owns Scania, MN, Navistar International and Volkswagen Trucks and Busses through its subsidiary Traton.
The group also owned Bugatti Cars until 2021, when it merged with Rimac Croatia in November of this year to form Bugatti Rimac. This corporation also has 94 car manufacturing plants in 24 countries and 340 subsidiaries and affiliates.
Part of Volkswagen Group’s shares are traded on the Frankfurt Stock Exchange, New York Stock Exchange, London Stock Exchange, and Six Switzerland Stock Exchange. The headquarters of this company is located in Wolfsburg, Lower Saxony, Germany.