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Clifford Chance

Clifford Chance

Briefings

Porsche: A Model For The Pan-European Retail IPO

4 October 2022

On 29 September 2022, the Porsche IPO was priced at EUR 82.50 per share at the top end of the price range. The offering was significantly oversubscribed and concluded the largest IPO by market capitalization in European history with EUR 78 billion at IPO. The Porsche IPO also included a never before implemented pan-European retail offering across six European jurisdictions with approximately 280 million people.

In this briefing, the fifth in our European Capital Markets Monthly Briefing Series, we discuss the considerations for a pan-European retail IPO, its economic, marketing and other benefits for an issuer and outline the legal challenges and obstacles. We also give context for the IPO and the retail component to provide future European issuers with strong brand recognition a basis for their decision to also include a broader retail offering modelled after the Porsche IPO.

Our European Capital Markets team is happy to further discuss these and other IPO topics with you. Do not hesitate to reach out to one of our team members in Europe.

Read our latest press release - Clifford Chance advises an international banking syndicate on the c. EUR 9.4 billion initial public offering of Porsche AG

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