It’s a tough time to launch an IPO, but that’s not stopping Porsche.
After months of speculation and wait, Porsche AG has finally been listed in the German stock market with a strong valuation of $72 million. At that amount, Porsche’s IPO has become the second biggest market debut in Germany. On top of the fantastic valuation, Porsche’s stock began trading up 3% from its issue price of 82.50 euros after it was listed. That’s a very promising start for the highly anticipated IPO.
Why is Porsche IPO doing so well? There are many answers to that. First, Porsche is diving headfirst into electrification and has laid it all out for the public to see. From the all-electric Taycan to plug-in variants of the Cayenne and Panamera, Porsche has quickly engineered and adapted their new electrified powertrains to fit the needs of their customers. Secondly, Porsche is an unbelievably well-known company with decades of success and the name itself is known by everyone. With such a strong brand presence and known for well-built automobiles, no one could ever imagine the Porsche brand declining in popularity or quality. Let’s face it, everyone wants a Porsche, and those who buy them want more.
This is a very promising start for Porsche’s IPO and we can’t see where it goes next.