Wall Street

Analysis – Porsche faces uphill drive in race to public listing

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Reuters UK

By Emma-Victoria Farr LONDON (Reuters) – Porsche may have to go public at a steep discount if it insists on going ahead as economic obstacles mount, two people involved in the landmark multi-billion-euro listing said. The prospect of a larger than customary discount would be a setback to the controlling families pushing the initial public offering to fund a costly makeover from petrol- to electric-driven sports cars. Original expectations have been high for the luxury car brand owned by Europe’s biggest carmaker, Volkswagen. Some had valued Porsche at more than 80 billion euros ($81.89 billion…

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