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    PAH3   DE000PAH0038

PORSCHE AUTOMOBIL HOLDING SE

(PAH3)
  Report
Real-time Estimate Tradegate  -  09:05 2022-12-01 am EST
57.55 EUR   -2.39%
11/24Chager Keen to Dust Cobwebs on Porsche Ahead of Mini Classic Rally
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11/22Wing and a prayer
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11/18J.D. Power Announces 2023 U.S. ALG Residual Value Awards
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Porsche touts successful IPO, sending company value above Mercedes-Benz

09/29/2022 | 09:12am EST

Porsche stock moved higher Thursday on the first day of its initial public offering stock trading -- Germany's largest IPO in more than 25 years. The sports car maker's parent company Volkswagen offered 911 million outstanding shares, referencing Porsche's most iconic model.

Share prices steadied atnearly $82 Thursday morning, providing a market cap of roughly $73 billion.

According to the Wall Street Journal, Porsche's public stock offering transformed the company into the top five biggest automakers, ahead of Mercedes-Benz.

Volkswagen AG announced the IPO earlier this month, with Porsche AG divided into 50% preference shares and 50% ordinary shares.

"Today is a great day for Porsche and a great day for Volkswagen," said Volkswagen's chief financial officer Arno Antlitz, on CNBC's "Squawk Box Europe" Thursday.

Antlitz said strong financials indicated the Porsche IPO would be successful. VW raised roughly $18 billion from the IPO.

In a statement Thursday, Porsche AG said it had "successfully crossed the finish line of its initial public offering."

The statement said Porsche is "entering a new era with increased entrepreneurial flexibility" with the IPO.

According to Marketwatch, VW plans to distribute 49% of the IPO proceeds in a special dividend which will be put to a shareholder vote in December.

Copyright 2022 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source International Top News

Stocks mentioned in the article
ChangeLast1st jan.
PORSCHE AUTOMOBIL HOLDING SE -1.80% 57.9 Delayed Quote.-29.47%
VOLKSWAGEN AG -0.19% 139.6 Delayed Quote.-21.17%
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Analyst Recommendations on PORSCHE AUTOMOBIL HOLDING SE
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Financials
Sales 2022 131 M 135 M 135 M
Net income 2022 5 136 M 5 296 M 5 296 M
Net cash 2022 368 M 379 M 379 M
P/E ratio 2022 3,50x
Yield 2022 5,90%
Capitalization 18 057 M 18 621 M 18 621 M
EV / Sales 2022 135x
EV / Sales 2023 120x
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 10
Last Close Price 58,96 €
Average target price 95,10 €
Spread / Average Target 61,3%
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-29.47%18 621
TOYOTA MOTOR CORPORATION-4.51%196 852
VOLKSWAGEN AG-21.17%85 454
MERCEDES-BENZ GROUP AG-4.72%71 050
GENERAL MOTORS COMPANY-30.82%57 623
BMW AG-2.46%57 441