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On September 5, local time, Volkswagen subsidiary Porsche AG initial public offering held a supervisory board meeting, Volkswagen issued a statement said, According to the review results, Volkswagen management committee in the supervisory board agreed to, In late September or early October Porsche initial public offering, Volkswagen stressed, Specific listing time will be determined according to market conditions, But is expected to be in Germany Frankfurt stock exchange by the end of this year to complete the listing. In addition, according to the financial news agency, some people familiar with the matter said that in the turbulent market conditions, Porsche valuation is still 60 - 85 billion euros, and attracted many investors, this may be Europe's largest IPO in many years. Under normal market conditions, Porsche is valued at 80 - 100 billion euros.

Volkswagen said the Qatar Investment Authority planned to buy a 4.99 percent stake in Porsche AG, Red Bull, Louis Vuitton and T. Rowe Price) and others also have investment intentions for Porsche's proposed IPO. Volkswagen also said it plans to offer Porsche preferred shares to retail investors in Germany, Austria, Switzerland, France, Spain and Italy. Earlier Bloomberg also reported that Volkswagen is considering opening up Porsche IPO subscriptions to European retail investors. People familiar with the matter said Volkswagen is negotiating with local banks to offer retail investors in countries including Germany, Austria, Switzerland, France, Spain and Italy the right to subscribe for some of Porsche's shares in the Frankfurt IPO. One person said that the proportion of shares open to retail investors would not exceed 5%. At the time, people familiar with the matter also stressed: "The review work is under way and the Volkswagen Group has not yet made a final decision."

In fact, news of Porsche's independent listing was first reported in the media in 2018, but Porsche denied the rumor at that time, and it was not until the end of February this year that the news of Porsche's independent listing made substantial progress. On February 23, Volkswagen made it clear that Porsche would go public independently, which would be Europe's largest IPO. On February 25, Volkswagen Finance Officer Arno Antlitz said Volkswagen would provide the market with an update and timetable on the listing in late summer.

According to the data, Volkswagen Group was founded in 1938 and is headquartered in Wolfsburg, Germany. It is the largest automobile company in Europe. Volkswagen established its first joint venture Shanghai Volkswagen in China in 1984 and its second joint venture FAW Volkswagen in Changchun in 1991. At present, Volkswagen Group's sub-brands include Volkswagen, Audi, Skoda, Lamborghini, Bentley, Bugatti and Porsche brands. Porsche and Volkswagen also have a "takeover and anti-takeover" story. In September 2008, Wolfgang Porsche, grandson of Porsche founder, proposed to acquire shares of Volkswagen Group, holding 35.14% of the shares, but due to the financial crisis, Porsche signed up to 10 billion euros of debt at that time, Volkswagen counterattacked and successfully acquired Porsche in 2009, Volkswagen acquired 49% of Porsche cars for 3.9 billion euros, and finally completed 100% of Porsche cars in 2012.

For Porsche will be listed independently news, The industry generally believes that Porsche independent listing or with Volkswagen Group and its own electric transformation related, Volkswagen Group has previously admitted that Porsche IPO is Volkswagen Group and Porsche transformation electric important step. According to the electric transformation strategy previously proposed by Volkswagen Group, Volkswagen will achieve more than 70% of pure electric vehicles in the European market by 2030, and 50% of pure electric vehicles in the Chinese and American markets. In the past 2021, Volkswagen has launched five models in China, including FAW-Volkswagen's ID.4 CROZZ, ID.6 CROZZ and SAIC-Volkswagen's ID.4 X, ID.3 and ID.6 X, but sales of the five models are not high.

Porsche, as one of Volkswagen Group's many sub-brands, sold 301915 vehicles worldwide in 2021, up 11% year-on-year and its first annual sales of more than 300,000 vehicles, according to data. In addition, Porsche sold 95671 vehicles in China in 2021, up 8% year-on-year, making it Porsche's largest single market in the world for the seventh consecutive year. The latest data shows that Porsche delivered 145860 vehicles globally in the first half of 2022, down 5% year-on-year, of which 40681 vehicles were delivered in China, down 16% year-on-year. Porsche China said that the reason for the decline in sales was due to the global chip supply and the impact of the epidemic. In the first half of the year, China's luxury car market as a whole declined. Although Porsche declined in its largest single market, it still achieved good results. For example, the delivery volume of new cars increased by 30% month-on-month in the second quarter, among which the sales volume and order volume of new cars in June showed double-digit growth year-on-year. In addition, Porsche Germany home market new car delivery volume of 13785 vehicles, Year-on-year growth of 5%, The United States market new car delivery volume of 32529 vehicles, Year-on-year decline of 10%, From the above data, Porsche in China market, The United States and other markets sales are less than the same period last year, Porsche global executive board member, Sales and marketing head Feng Peide said, Expected the second half of the car market will grow, For the future performance remains optimistic.

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