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Porsche IPO valuation: was the stock undervalued or overvalued

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Resumo:This work project assesses the value of Porsche AG at the time of its IPO on September 29,2022. The analysis begins with an examination of the motivations behind the IPO, Porsche’s unique positioning in the marker as either a luxury or premium brand as well as identifying relevant comparable companies. Findings from the valuation suggest that Porsche AG’s IPO was launched at a discounted price. This underpricing may be attributed to challenging conditions in the automotive industry still affected by the lingering impacts of the COVID-19 pandemic. Other reasons may fall to the company’s complex corporate structure closely linked to Volkswagen AG.
Autores principais:Campina, Filipe Viana de Carvalho Luz
Assunto:IPO valuation Porsche Overpricing/underpricing Equity Carve Out
Ano:2024
País:Portugal
Tipo de documento:dissertação de mestrado
Tipo de acesso:acesso aberto
Instituição associada:Universidade Nova de Lisboa
Idioma:inglês
Origem:Repositório Institucional da UNL
Descrição
Resumo:This work project assesses the value of Porsche AG at the time of its IPO on September 29,2022. The analysis begins with an examination of the motivations behind the IPO, Porsche’s unique positioning in the marker as either a luxury or premium brand as well as identifying relevant comparable companies. Findings from the valuation suggest that Porsche AG’s IPO was launched at a discounted price. This underpricing may be attributed to challenging conditions in the automotive industry still affected by the lingering impacts of the COVID-19 pandemic. Other reasons may fall to the company’s complex corporate structure closely linked to Volkswagen AG.