The company ‘Volkswagen Group’ has been in the advanced discussions with Porsche over a flotation of the stock market for the manufacturer of the sports care that is 91 year old company. Porsche holding and the Volkswagen Group have now agreed a framework structure for the upcoming steps in a listing that has now been sending to the board of the company for the approval.
It is still not yet fixed that, the company is going to be heading with an IPO for the company ‘Porsche’, and the company also said that, the possibility has been currently opened and it also depends on the approval of the boards of both the companies.
Porsche is going to be latest in a succession of the performance brans for going public, and the company ‘Polestar’ owned by Volvo is all set for being listed on the Nasdaq through a special purpose acquisition company (SPAC), and according to the reports, the Volkswagen Group can also float Porsche as a means of getting funding for the company’s transition to the all-out electrification across the company’s multiple brand portfolio.
Porsche has been a part of the Volkswagen Group for a decade and the company has been consistently contributing a significant proportion of the profits of the company, and the company ‘Volkswagen Group’ has been recently pledging to invest 76 billion pounds in the new technology for the upcoming four years as part of the electrification ambitions of the company.
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