LONDON -- Porsche may have to go public at a steep discount if it insists on going ahead as economic obstacles mount, two people involved in the landmark multi-billion-euro listing said.
The prospect of a larger than customary discount would be a setback to the controlling Porsche and Piech families pushing the initial public offering to fund a costly makeover from gasoline- to electric-driven sports cars.
Original expectations have been high for the brand, owned by Volkswagen Group. Some had valued Porsche at more than 80 billion euros ($81.89 billion), according to bankers involved.