If you want to own a little bit of Porsche, your chance is coming. The German automaker announces an initial public offering to list 25 percent of preferred shares in the company on the Frankfurt Stock Exchange. The IPO should happen at the end of September or the beginning of October, according to Porsche's plan.
Porsche believes the IPO gives the automaker "increased entrepreneurial independence," according to the announcement. The company continues to work with Volkswagen Group but is terminating its profit-and-loss transfer agreement with the parent company.
"This is a historic moment for Porsche. We believe an IPO would open up a new chapter for us with increased independence as one of the world's most successful sports car manufacturers," said Porsche Chairman Oliver Blume in the IPO announcement.
The available stock will be non-voting preferred shares. This will mean that the shareholders won't be able to do things like elect the board of directors. There will be a public offer to retail investors in Germany, Austria, France, Italy, Spain, and Switzerland.
Porsche plans to have a dividend payout ratio of 50 percent based on consolidated profit after tax. This figure comes from the dividends paid to shareholders in relation to a company's net income.
Financially, Porsche estimates a return on sales of 17 to 18 percent for the full year of 2022. The long-term goal is for this figure to grow beyond 20 percent. Return on sales is a ratio of operating profit divided by net sales. The resulting figure offers an insight into how efficiently a company is running with higher numbers being better.
Porsche's goal is for over 80 percent of its vehicle deliveries to be EVs in 2030. The models on the way include the Macan EV, a seven-seat SUV, and a second-generation Taycan. According to a recent rumor, the company is developing an electric Panamera that would be even larger than the Taycan. This model is still allegedly very early in development and might not arrive until late in the decade.