The management and supervisory boards of Volkswagen (VOWG p.DE) will meet on Monday to decide whether the eagerly anticipated listing of sports car manufacturer Porsche should take place in late September or early October.
Volkswagen’s approval of the sale of 25% plus one share of ordinary shares in Porsche AG to Porsche SE, as outlined in the two parties’ framework agreement from February, will also be decided.
That would give the Piech and Porsche families, who control Porsche SE, a minority voting position, which would support their efforts to gain more influence over the automaker that their ancestor Ferdinand Porsche started in 1931.
The meeting was confirmed on Monday in a separate statement by Porsche SE, which owns 31.4% of Volkswagen and controls 53.3% of the voting rights. The statement also stated that further board discussions and market developments still needed to take place before the listing could go live.
According to the general agreement agreed in February, only 12.5% of Porsche’s total capital, or 25% of preference shares, will be offered on the open market.
According to calculations by Reuters, even that might increase to 10.6 billion euros ($10.55 billion) if investor estimations for the brand’s valuation come in at approximately 85 billion euros.
According to Refinitiv data, this would make the listing one of the biggest in German history and the biggest in Europe since Enel SpA in 1999.