Things are happening in quick succession in the Volkswagen Group: After Oliver Blume last week took over the position of CEO in addition to his role as CEO of Porsche, the decision on the sports car manufacturer's IPO is to be made this Monday.
The board of directors and the supervisory board meet for this purpose, as the Volkswagen group announced at the weekend.
Gustave parts
Business correspondent in Stuttgart.
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After the decision, Volkswagen then has four weeks to complete the IPO.
The group now named “end of September/beginning of October” as a possible time for going onto the floor.
In addition to the actual IPO, the sale of 25 percent and one share of the Porsche ordinary shares to the VW major shareholder Porsche SE will be involved.
He said that talks with VW were in advanced stages, and that the board of directors and the supervisory board would also meet on Monday.
Like the Volkswagen Group, Porsche SE is listed on the Dax and is controlled by the Porsche and Piëch families.
Even after the resolutions, the IPO will continue to be "subject to market developments," the company said.
If the IPO goes through, it should be one of the largest in German economic history.
A market valuation of 60 to 85 billion euros is considered probable by many market observers and analysts.
The share capital would be divided equally into non-voting preference shares and ordinary shares, which entitle the holder to vote at the general meeting.
Finally, 25 percent of the preferences are to be placed on the stock exchange.
Volkswagen intends to use the proceeds from the sale of shares for further investments, a special dividend for shareholders and a bonus for its employees.