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CEO Blume hails ‘historic moment’ as Porsche AG lists on Frankfurt exchange
Quick Summary
FRANKFURT (Reuters) – Porsche AG Chief Executive Oliver Blume rang the bell and hugged colleagues on what he called the “historic moment” of the luxury car brand listing on Thursday after Germany’s biggest initial public offering (IPO) in more than 25 years.
FRANKFURT (Reuters) – Porsche AG Chief Executive Oliver Blume rang the bell and hugged colleagues on what he called the “historic moment” of the luxury car brand listing on Thursday after Germany’s biggest initial public offering (IPO) in more than 25 years.
Porsche Chief Financial Officer Lutz Meschke added that the company had proven it could succeed in challenging market circumstances.
(Reporting by Victoria Waldersee; writing by Matthias Williams; Editing by Miranda Murray)
Frequently Asked Questions about CEO Blume hails ‘historic moment’ as Porsche AG lists on Frankfurt exchange
1What is an IPO?
An IPO, or Initial Public Offering, is the process through which a private company offers its shares to the public for the first time, allowing it to raise capital from public investors.
2What is equity?
Equity represents ownership in a company, typically in the form of shares. Shareholders have a claim on the company's assets and earnings.
3What is corporate governance?
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled, ensuring accountability and fairness in its relationships with stakeholders.
