EUR/USD 1.17398
-0.024%
Gold 4753.80
0.716%
Oil 88.583
-1.193%
USD/JPY 159.366
-0.006%
GBP/USD 1.35052
-0.015%
GBP/JPY 215.232
-0.007%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 22, Iranian Permanent Representative to the United Nations, Illavani, stated on April 21 that Iran is ready to resume negotiations, but this depends on the United States. Negotiations will only begin if the US lifts its blockade. This statement came as US President Trump announced an extension of the ceasefire with Iran. However, according to Irans Tasnim News Agency, Iran did not request an extension. The Speaker of the Iranian Islamic Parliament, and advisor to former head of the negotiating delegation, Ghalibaf, also stated on social media that continued blockades are tantamount to bombing and must be met with a military response.April 22 – At todays quarterly press conference of the Ministry of Emergency Management, it was announced that in 2025, the Central Committee of the Communist Party of China and the State Council issued the "National Overall Emergency Response Plan for Emergencies," requiring all localities and relevant departments to promptly adjust the content of the emergency response plans based on the results of emergency response and drill evaluations. Currently, a new round of revisions and formulation of national-level emergency response plans has been fully launched. According to the plan, national-level emergency response plans that require revision after evaluation will, in principle, be completed by December 2026.On April 22, the Taiwan Affairs Office of the State Council held a regular press conference. A recent poll released by the Taiwan Democracy and Education Foundation showed that, regarding the possibility of a military conflict between the two sides of the Taiwan Strait, 54.4% of respondents believed that the United States would definitely not or might not unconditionally send troops to protect Taiwan, while only 28.6% believed it would. What is your comment on this? Zhang Han, spokesperson for the Taiwan Affairs Office, stated that the poll once again demonstrates that more and more Taiwanese compatriots realize that "Taiwan independence" is a dead end, that outsiders cannot be relied upon, and that in the eyes of the United States, Taiwan is merely a "pawn" to contain the mainlands development, and a "discarded pawn" that can be abandoned at any time. It must be emphasized that the Taiwan issue is purely Chinas internal affair and brooks no external interference. The DPP authorities stubborn "reliance on the US for independence" will not bring security and peace, but will only bring immediate harm and future generations.On April 22, the Taiwan Affairs Office of the State Council held a regular press conference. Lai Ching-tes planned visit to Swaziland was cancelled because the relevant country refused to issue a flight permit for his chartered flight. What is your comment on this? Zhang Han, spokesperson for the Taiwan Affairs Office, stated that we appreciate the position and practices of the relevant countries in adhering to the one-China principle. Those who act justly gain widespread support, while those who act unjustly find themselves isolated. Facts have once again proven that the one-China principle is a fundamental norm of international relations and a universal consensus of the international community; it is an irresistible trend, a matter of righteousness, and the will of the people.On April 22, the State Council Taiwan Affairs Office held a regular press conference. Regarding the visit to the mainland by a delegation led by Kuomintang Chairperson Cheng Li-wen, a Taiwan security official stated that the mainlands new measures towards Taiwan might be an "election-intervention" tactic aimed at influencing the islands elections. What is your comment on this? Spokesperson Zhang Han of the Taiwan Affairs Office stated that the DPP authorities stubbornly adhere to their "Taiwan independence" separatist stance, leading to the suspension of cross-strait dialogue and consultation. They also deliberately smear, attack, and suppress normal exchanges and interactions between other political parties, groups, and sectors of society on the island and the mainland. Our introduction of 10 policy measures to promote cross-strait exchanges and cooperation has been applauded and supported by all sectors of society on the island and the vast majority of Taiwanese compatriots, who all want to benefit from them. Only the DPP authorities have jumped out to attack, slander, and oppose them. This once again fully exposes the true face of the DPP authorities plot to achieve "Taiwan independence," as well as their evil nature of undermining cross-strait exchanges and cooperation, harming the well-being of the people, and opposing the people.

Volkswagen wants 75 billion euro valuation in blockbuster Porsche IPO

Charlie Brooks

Sep 19, 2022 10:42

9.png


Volkswagen revealed on Sunday that it aims to value premium sports car maker Porsche at up to 75 billion euros ($75,1 billion) in what will be Germany's second-largest initial public offering (IPO) in history.


Volkswagen (ETR:VOWG p) will price preferred shares in the float of Porsche AG between 76.50 and 82.20 euros per share, the manufacturer revealed, which corresponds to a valuation between 70 billion and 75 billion euros.


At the upper end of the range previously reported by Reuters, according to Refinitiv figures, it would be the third largest IPO in Europe's history. Volkswagen said that trading on the Frankfurt Stock Exchange will resume on September 29.


In conjunction with the IPO, 911,000,000 Porsche AG shares will be divided into 455.5,000,000 preferred shares and 455.5,000,000 common shares. During the IPO, investors will get up to 113,875,000 shares of preferred stock without voting rights.


Volkswagen stated that sovereign wealth funds from Qatar, Abu Dhabi, and Norway, along with mutual fund company T. Rowe Price, will purchase up to 3.68 billion euros in preferred shares as cornerstone investors.


Volkswagen's Chief Financial Officer and Chief Operating Officer, Arno Antlitz, commented, "We are in the final stages of planning Porsche's initial public offering, and we appreciate the commitment of our cornerstone investors."


Porsche SE will obtain 25% plus one ordinary share in the sports car brand, which do carry voting rights, for the price of the preferred shares plus a 7.5% premium.


According to a second release, Porsche SE, the holding firm controlled by the Porsche and Piech families, would finance the acquisition of the ordinary shares with up to 7.9 billion euros in borrowed cash.


Between 18,1 and 19,5 billion euros will be realized from the transaction. Volkswagen will propose distributing 49% of total profits as a special dividend to shareholders in early 2023 if the IPO is successful, and will host an extraordinary shareholder meeting in December.


On Monday, following the release of a stock market prospectus, institutional and individual investors will be able to subscribe for Porsche shares.

Suggestion