By Christoph Steitz

FRANKFURT / Reuters -Volkswagen, Porsche SE and the top shareholder, have discussed details of a possible Porsche listing. The announcement could be one of world’s biggest stock markets debuts.

Porsche AG’s share capital would be split into 50 percent preferred shares and 50 percent ordinary shares in the event of an initial public offer. However, up to 25% would go on the stock exchange.

This could lead to Porsche AG shares being placed at more than 20 Billion euros with a value of as high as 90 billion Euros ($101 billion).

The industry of automobile is changing in fundamental ways. Volkswagen (DE), Chief Executive Herbert Diess, stated that Volkswagen wants to be a leader in the world of autonomous mobility and zero emissions.

An IPO by Porsche AG would allow us to accelerate our transformation. Porsche AG would be able to pursue entrepreneurial opportunities while also benefiting from group synergies.

Porsche SE, according to the agreement, would purchase 25% of Porsche AG ordinary shares from Volkswagen for a premium of 7.5% to the price of preferred shares.

This would allow the Porsche and Piech families to control Porsche SE, the listed carmaker founded in 1931 by Ferdinand Porsche.

Volkswagen indicated that it would offer 49% to shareholders for the gross proceeds it generates from the sale preferred or ordinary shares. This is assuming it goes ahead with a stock exchange listing.

($1 = 0.8941 euros)