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Porsche Set For €5B Rights Issue
Porsche will continue with its plan to raise €5 billion in fresh capital through a rights issue in coming weeks.
Porschewill continue with its plan to raise €5 billion in fresh capital through a rights issue in coming weeks,金融时报》reports. The German auto maker seeks to use the proceeds to cut its €6.34 billion net debt load to about €1.5 billion.
The Stuttgart-based company is seeking to raise €2.5 billion through new common shares and €2.5 billion through new preferred shares,The Wall Street Journalreports. The planned rights issue will be backed by the Porsche and Piëch families and byQatar Holding,whichholds a 10% stake.
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