Get All Access for $5/mo

An Iconic Luxury Car Manufacturer Is Planning for a Staggering IPO It could be the largest IPO in Europe since 1999.

By Amanda Breen

VCG / Contributor | Getty Images

Despite inflation and a tumultuous stock market, one high-performance car manufacturer is ready to take the plunge with an IPO.

Porsche, a subsidiary of Volkswagen Group, plans to go public in the coming weeks, per Reuters, with an estimated valuation between $60 billion and $85 billion.

Related: Things to Keep in Mind Before Renting a Luxury Car

An IPO at the high end of that expected range would make it the largest in German history and the biggest in Europe since 1999, according to Refinitiv data. The staggering listing would come amid record inflation and a Russia-Europe energy deadlock that's pushed stock prices down significantly.

Still, an IPO isn't certain. "It would be the technical go-ahead, nothing more," a source informed Reuters. "It's paving the way, but this would not guarantee that the stock market bell will ring in the end."

A recent leadership change could also complicate matters, per CNN. The company suddenly announced the replacement of former chairman Herbert Diess in July, declining to give a reason, and Oliver Blume stepped in as CEO on September 1.

Related: Porsche Is Giving Their Dealerships the 'Disneyland' Treatment

Additionally, although Volkswagen has its eyes on the electric market (doubling its battery EV sales in 2021 to 453,000 worldwide), it's still lagging behind Toyota's electric vehicle sales, CNN reported.

Volkswagen Group is down nearly 30% year over year.

Amanda Breen

Entrepreneur Staff

Senior Features Writer

Amanda Breen is a senior features writer at Entrepreneur.com. She is a graduate of Barnard College and received an MFA in writing at Columbia University, where she was a news fellow for the School of the Arts.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

How to Be a Billionaire By 25, According to a College Dropout Turned CEO Worth $1.6 Billion

Austin Russell became the world's youngest self-made billionaire in 2020 at age 25.

Living

Taylor Swift Has a Lucky Number. And She's Not the Only High Performer Who Leans Into Superstitions to Boost Confidence.

Even megastars like Swift need a little extra something to get them in the right mindset when it is game time.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Marketing

SEO Trends You Need to Be Aware of Right Now, According to a Seasoned Pro

Navigate the future of search engine optimization to elevate your online presence and drive meaningful engagement.