Volkswagen is pursuing an IPO of its lucrative Porsche division, aiming to capitalize on the luxury brand's sales momentum and electric future.
to sell 25% of its Porsche shares — half of which will be acquired by the Porsche family and half of which will be sold through the IPO.The offering could value Porsche at $59.8 billion to $84.6 billion, according to analyst estimatesState of play:
Porsche sales have been on a roll for years as the brand has capitalized on the world's transition to SUVs, having popularized the Macan and Cayenne models.Porsche has been VW's "cash cow" for years, representing 50% of the automaker's pretax profit from passenger cars last year despite making up only 3% of its vehicle sales.
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