Issue link: https://maltatoday.uberflip.com/i/1454943
Name Current Change %Change Open High Low Prev. Value Close US MARKETS NASDAQ 13,294.99 -86.53 -0.65 13511.75 13533.78 13294.99 13381.52 EUROPEAN MARKETS FTSE 7,504.77 10.56 0.14 7494.21 7549.98 7490.54 7494.21 CAC 6,782.66 -4.94 -0.07 6801.66 6904.81 6781.10 6787.60 DAX 14,619.01 -73.99 -0.50 14754.22 14901.09 14615.67 14693.00 ASIAN MARKETS SGX Nifty 16,969.50 -93.50 -0.55 17052.50 17115.00 16961.00 17063.00 Nikkei 225 26,449.61 -461.26 -1.71 26515.45 26550.14 26243.73 26910.87 Straits Times 3,393.00 -7.58 -0.22 3379.94 3401.12 3371.99 3400.58 Hang Seng 23,660.28 140.28 0.60 23617.97 23745.07 23500.92 23520.00 Taiwan Weighted 18,055.73 86.44 0.48 17954.75 18109.28 17954.75 17969.29 KOSPI 2,719.53 12.74 0.47 2727.43 2729.56 2705.31 2706.79 SET Composite 1,696.45 5.33 0.32 1694.07 1700.35 1686.09 1691.12 Jakarta Composite 6,920.06 58.07 0.85 6878.63 6920.06 6873.81 6861.99 Shanghai Composite 3,489.15 32.00 0.93 3458.51 3490.76 3458.18 3457.15 17.2.2022 7 MARKETS International Markets Global Indices Trading Date: 16 February 2022 VW Group confirms possible Porsche IPO THOUGH rumored for years, Volkswagen Group has now finally confirmed its interest in taking its Porsche subsidi- ary public. VW Group on Tuesday said it was in "advanced discus- sions" regarding an initial public offering of Porsche. e talks are primarily between VW AG's board and the board of its main shareholder, Porsche SE, the holding company majority owned by the Porsche and Piech fami- lies, and which owns 31.4% of VW Group and has 53.3% of the voting rights. A final decision on the IPO will require the approval of both boards. It's rumored that the Porsche and Piech families may sell some of their shares in VW Group in order to purchase shares in a public Porsche, in an effort to regain their direct ownership in the sports car manufacturer, which they lost during Porsche's failed takeover of VW Group in the years leading up to the global financial crisis. VW Group is currently undertaking ambitious electric vehicle and software development programs, and a spinoff of Porsche, or more likely just a part of it, could raise some of the multiple billions required. In 2018, Porsche Chief Financial Officer Lutz Meschke floated the idea of an IPO during a media event for the launch of the Taycan, claiming that Porsche could be val- ued at up to $80 billion. It's likely the valuation would be even higher today, given the investment focus on automak- ers offering electric vehicles. We've seen a number of automakers go public in the past couple of years, either via IPOs or SPAC deals. Some have been quite successful, such as the IPO of Rivian and the SPAC deal of Lucid. VW Group was also recently rumored to be looking at a spinoff of its Lamborghini subsidiary, though the automak- er in 2020 said it will keep Lamborghini along with Bentley and Ducati. It did however transfer in 2021 the ownership of Bugatti to a new joint venture split 45/55 between Por- sche and Croatian EV technology company Rimac.