Browsing: Volkswagen

Porsche IPO bucks gloomy economic trends

Conventional finance theory will advise that raising capital on the public markets can be an uphill task when an economy is slowing. A booming economy characterized by low-interest rates with increasing growth rates is the most conducive for an equity offering, more so an initial public offering. A further stroke of genius on the part of Volkswagen and Porsche is that the equity offering comprised preference shares.

The preference shares comprise 12.5% of the issued share capital of Porsche.

This is a stroke of genius in the sense that preference shares, by their nature, resemble fixed income security which would be in high demand in the current environment where interest rates are elevated or are on the upward path. The preferred share component of the IPO must have been appealing and contributed to the offering being oversubscribed.

Preference shares are shares that generally carry with them voting rights and accrue …

Egypt is Germany’s third-largest trade partner - The Exchange

Egypt is Germany’s third-largest trade partner in the Middle East, with a trade exchange worth $3.6 billion.

According to a report by the Ministry of Trade and Industry, trade between the two countries increased by $43 million during the first nine months of 2019 to $3.622 billion, compared to about $3.579 billion recorded during the same period in 2018.

In 2017, the trade exchange between Egypt and Germany reached its highest level at 5.8 billion euros.

Germany’s total investment in Egypt currently stands at about $7.4 billion across various fields, including construction, industry, tourism, the service sector, agriculture, and information and technology.

In German investment guarantees, Egypt also ranks among the top ten recipients with 18 guarantees worth 1.4 billion euros.

During Mostafa Madbouly, Egyp’st Prime Minister visit to Germany last June, he signed a memorandum of understanding with Bosch to build a factory in an area of 120,000 square …

Rwanda has become the first African country to introduce Volkswagen electric car.

This has been as a result of a joint agreement between two firms, Volkswagen and Siemens to conduct electric mobility feasibility project.

According to a statement from Apo, the pilot Project part of Moving Rwanda Initiative; Four e-Golfs and one charging station for the initial phase of the pilot project; e-Golfs added into the Volkswagen Mobility Solutions fleet

In June 2018, Volkswagen opened Rwanda’s first car plant with a factory based in Kigali. The $20 million investment was designed to create up to 1000 jobs for the country.

The new pilot project, which will form part of Volkswagen’s operations in Rwanda, was officially announced today by Thomas Schäfer, CEO of Volkswagen Group South Africa and responsible for the Sub-Sahara Africa Region, in the presence of the Prime Minister of the Republic of Rwanda, Right Honourable Dr. Edouard Ngirente.…