Porsche CFO sees potential IPO reap Ferrari-like multiples

The Porsche 918 Spyder is seen on the second press day of the Paris auto show in Paris, October 3, 2018. - REUTERS

FRANKFURT: Porsche AG’s chief financial officer said a share sale of Volkswagen AG’s most profitable unit could unlock value to echo Ferrari NV’s successful public offering and help the sports-car maker raise money if needed.

The maker of the 911 model could easily be valued “between ?60bil (RM289bil) and ?70bil (RM337bil)”, applying multiples for luxury-goods producers such as Ferrari, Lutz Meschke told reporters at Porsche’s development centre outside Stuttgart at an event for the brand’s first electric car, the Taycan.