Porsche closed the first full week on the Frankfurt Stock Exchange with a valuation of 84 billion euros, a value that exceeds the 75,000 million forecast by analysts at launch. Even though the market capitalization is higher than anticipated, Porsche is rated 8.5 times lower than Tesla, which on Friday was worth 699,000 million dollars, approximately 717,000 million euros. But there is equally good news in Porsche’s IPO.
The Volkswagen Group decided to sell Porsche in part because this strategy interests the Porsche and Piech familieswho dominate the administration of the German consortium and wanted to regain control of the brand that uses their surname, but also because the “exit” of this constructor of SUVs and sports models would allow a cash inflow of 9,600 million, which the group will use to reinforce investment in electric mobility. Porsche was launched on the Frankfurt Stock Exchange on September 29, with a market capitalization of €75 billion, as the shares were trading at €82.50, a value that would later fall to €79.40 earlier. this week, before rising again to €91.04 on Friday, which took Porsche’s value to €84 billion.
This increase in the value of the brand’s securities was due to the action of several investment banks, as part of the “greenshoe option”, a mechanism designed to protect newly listed companies. This stabilization effort will last four weeks, after which Porsche will be on its own.
If the difference with Tesla in terms of value is overwhelming, Porsche achieves important victories in the European market. The current 84,000 million euros place the brand above the Volkswagen Group itself, valued at 78,000 million euros. Mercedes, worth €57 billion, also lags behind, as does the BMW Group (€48 billion), Stellantis (€40 billion) and Ferrari (€37 billion). Therefore, Porsche is the most valuable European brand.
Source: Observadora
