Winning together: Porsche set to float
Apropos of nothing in particular, it seems that Porsche, one of the great brands, may be heading for a sooner-than-expected IPO in September:
Porsche Holding - which has zero debt and is all equity - holds more than a 50 per cent voting stake in perpetually hated and significantly undervalued Volkswagen (with a market cap of just EUR 86 billion), which itself has a tremendous brand portfolio, including 668,000 employees, revenues of a smidgen over EUR 250 billion...and indeed a 100 per cent ownership of the outstanding Porsche brand.
One might expect any Porsche spin-off to realise a value far in excess of the EUR 12 billion at which Volkswagen has had it valued, while moreover the clamour for widespread media coverage appears likely draw attention to the true value of the group.
