Stuttgart – German sports car manufacturer Porsche has made its stock market debut in the biggest IPO (initial public offering) in Germany since Deutsche Telekom in 1996. The placement price for the preference shares was set at EUR 82.50. The total capital raised is around EUR 9.4 billion, which will be used to transform VW AG and the corporate group in preparation for the age of electromobility.
A CMS team headed by partners Dr Karsten Heider and Philipp Melzer advised Porsche AG on all legal aspects of the IPO, both before and during the float. The Zuffenhausen-based sports car manufacturer has been a CMS client for many years. Its parent company, Volkswagen, also relies on the expertise of CMS on a regular basis.
CMS Germany
Dr Karsten Heider, Lead Partner, Stuttgart
Dr Martina Schmid, Partner, Stuttgart
Markus Beil, Senior Associate, Stuttgart, all Stock Corporation Law and Group Law
Philipp Melzer, Lead Partner, Frankfurt/Main
Dr Andreas Zanner, Partner, Frankfurt/Main
Ayleen Görisch, Counsel, Frankfurt/Main
Patrick Damanik, Senior Associate, Frankfurt/Main
Dr Philipp Henneberg, Associate, Frankfurt/Main, all Capital Markets
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