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    PAH3   DE000PAH0038

PORSCHE AUTOMOBIL HOLDING SE

(PAH3)
  Report
Real-time Estimate Tradegate  -  08:30 2022-12-09 am EST
56.17 EUR   -0.51%
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Indicated demand for shares in Porsche AG exceeds full deal size - bookrunners

09/26/2022 | 10:29am EST
FILE PHOTO: A logo of Porsche is seen outside a Porsche car dealer, amid the coronavirus disease (COVID-19) outbreak in Brussels

BERLIN (Reuters) - Orders below 82.50 euros ($79.69) per share for Porsche AG's listing risk missing as books are covered at this level multiple times, according to several bookrunners involved in the deal.

Books will close at 1200 GMT on Sept. 28, the bookrunners said, correcting an earlier report by one bookrunner in which they said they would close on Sept 27.

Indicated demand exceeded the full deal size, the bookrunners said, with one describing demand as "incredibly robust."

Volkswagen will list its sportscar brand Porsche AG on Thursday at the Frankfurt Stock Exchange in what could become one of the largest IPOs in European history.

Volkswagen said this month it would price preferred shares in the flotation of Porsche AG scheduled for this Thursday at 76.50 - 82.50 euros per share, translating into a valuation of 70-75 billion euros.

That would leave the luxury carmaker's market capitalisation below some investors' estimates of up to 85 billion euros, but far outstripping the 49-billion-euro price tag for rival BMW and Mercedes-Benz's 61 billion euros.

($1 = 1.0353 euros)

(Writing by Miranda Murray, Reporting by Lucy Raitano, Editing by Victoria Waldersee)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 0.81% 83.6 Delayed Quote.-6.25%
MERCEDES-BENZ GROUP AG 1.85% 64.33 Delayed Quote.-6.61%
PORSCHE AG -0.54% 101 Delayed Quote.0.00%
PORSCHE AUTOMOBIL HOLDING SE 0.18% 56.56 Delayed Quote.-32.46%
VOLKSWAGEN AG 0.85% 137.82 Delayed Quote.-23.03%
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Analyst Recommendations on PORSCHE AUTOMOBIL HOLDING SE
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Financials
Sales 2022 131 M 138 M 138 M
Net income 2022 5 148 M 5 430 M 5 430 M
Net cash 2022 368 M 388 M 388 M
P/E ratio 2022 3,31x
Yield 2022 5,89%
Capitalization 17 291 M 18 235 M 18 235 M
EV / Sales 2022 129x
EV / Sales 2023 115x
Nbr of Employees 36
Free-Float 50,0%
Chart PORSCHE AUTOMOBIL HOLDING SE
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Porsche Automobil Holding SE Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Last Close Price 56,46 €
Average target price 92,45 €
Spread / Average Target 63,8%
EPS Revisions
Managers and Directors
Hans Dieter P÷tsch Chairman-Management Board
Wolfgang Porsche Member-Supervisory Board
Lutz Meschke Head-Investment Management
Ulrich Lehner Member-Supervisory Board
Ferdinand Oliver Porsche Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
PORSCHE AUTOMOBIL HOLDING SE-32.46%18 235
TOYOTA MOTOR CORPORATION-7.93%193 539
VOLKSWAGEN AG-23.03%84 993
MERCEDES-BENZ GROUP AG-6.61%71 217
BMW AG-6.25%56 379
GENERAL MOTORS COMPANY-34.85%54 271