Porsche family increases shares in its own business

Members of the Porsche family have bought a total of 129,600 shares in Porsche Automobil Holding SE last week for about 7.7 million Euros. Porsche declined to comment on the investment by the Porsche family but did say that they had bought non-voting shares.

“But buying non-voting shares of Porsche Automobil Holding SE does not influence the ownership of Porsche SE,” Porsche spokesman Frank Scholtys said.

Ferdinand Oliver Porsche bough a total of 95,000 shares alone while Wolfgang Porsche bought 34,600 shares. Porsche will be increasing its controlling interest in Volkswagen later this month over 50 percent. It currently owns 35 percent.

The upcoming Porsche Panamera is expected to increase share prices by 24 euros. Yes – even in a market like this, Porsche is optimistic.

Source: Automotive News Europe (Subscription Required)