The Big Picture

Vincent Boland: Porsche’s IPO will drive straight into a hostile stock market

The transaction values the luxury car maker at €75 billion – but the IPO market is in the doldrums to a degree not seen in over a decade

An IPO is a transaction fraught with risk – even for a brand as well known as Porsche. Picture: AFP via Getty

When Porsche, the German maker of fast and pricey cars, lists its shares on the Frankfurt stock market later this week, it will be the biggest initial public offering in Europe for years. The transaction values Porsche at up to €75 billion. It has been talked about for years, and now that it is finally happening, it could transform the fortunes of the luxury brand and of Volkswagen, its parent group.

Yet, despite its size ...