Volkswagen to start review of Porsche AG IPO

  • Management Board and Supervisory Board conclude framework agreement and decide to assess the feasibility of a potential IPO
  • Volkswagen envisages dividing share capital of Dr. Ing. h.c. F. Porsche AG into preferred and ordinary shares and to place up to 25% of the preference shares
  • Porsche Automobil Holding SE would acquire 25% plus one share of the ordinary shares in Porsche AG
  • Initial public offering of Porsche AG would mark next step in Volkswagen’s transformation from brand manufacturer to a vertically integrated mobility Group, providing additional flexibility to accelerate Group’s NEW AUTO strategy
  • Listing would provide more entrepreneurial freedom to Porsche AG, while crystalizing the company’s value for Volkswagen shareholders
  • Shareholders would receive special dividend of 49% of total gross proceeds in the event of a successful transaction
  • Employees of Volkswagen AG would participate in the Group's success with a one-time payment of 2,000 Euros per employee
The specified fuel consumption and emission data are determined in accordance with the measurement procedures prescribed by law. 1 January 2022, the WLTP test cycle completely replaced the NEDC test cycle and therefore no NEDC values are available for new type approved vehicles after that date. This information does not refer to a single vehicle and is not part of the offer but is only intended for comparison between different types of vehicles. Additional equipment and accessories (additional components, tyre formats, etc.) can alter relevant vehicle parameters such as weight, rolling resistance and aerodynamics, affecting the vehicle's fuel consumption, power consumption, CO2 emissions and driving performance values in addition to weather and traffic conditions and individual driving behavior. Due to more realistic testing conditions, fuel consumption and CO2 emissions measured according to WLTP will in many cases be higher than the values measured according to NEDC. As a result, the taxation of vehicles may change accordingly as of 1 September 2018. For further information on the differences between WLTP and NEDC, please visit Further information on official fuel consumption data and official specific CO2 emissions for new passenger cars can be found in the "Guide to fuel economy, CO2 emissions and power consumption for new passenger car models", which is available free of charge from all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, D-73760 Ostfildern, Germany and at