German Porsche eyes Gulf sovereign funds for IPO

RIYADH: German automobile manufacturer Porsche is trying to secure anchor investments from Gulf sovereign wealth funds, Bloomberg reported citing people familiar with the matter.

The car maker, which is owned by Volkswagen, looks to pull off one of Europe’s biggest listings amid market headwinds and valuation concerns, the people said.

Sovereign funds considering committing to the Porsche listing include Abu Dhabi’s Mubadala Investment Co. and ADQ, the people said, asking to remain anonymous for information confidentiality.