Porsche Abandons Plans For Listing On NYSE

Jan. 13, 2005
By Agence France-Presse Porsche, the German maker of luxury sports cars, said Oct. 16 it had decided to shelve plans for a listing on the New York Stock Exchange in view of new U.S. listing rules that hold executives personally responsible for their ...
By Agence France-Presse Porsche, the German maker of luxury sports cars, said Oct. 16 it had decided to shelve plans for a listing on the New York Stock Exchange in view of new U.S. listing rules that hold executives personally responsible for their companies' accounts. "The idea [of listing on the NYSE] certainly had its attractions for us," Porsche Chairman Wendelin Wiedeking said. "However, we came to the conclusion that a listing in New York would not bring many advantages to us or our shareholders. At the same time, it would require a great deal more time and energy on our part [in view of the new regulations which required company executives to personally vouch for their companies' accounts.]" "This requirement does not fit in with the legal position in Germany," Wiedeking added. Copyright Agence France-Presse, 2002

Popular Sponsored Recommendations

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Powering Up Productivity: The Transformative Power of AP Automation in Manufacturing

Oct. 25, 2023
Discover how AP Automation is revolutionizing the manufacturing industry, driving efficiency, cost savings, and security. In today's world, automation is the key to staying competitive...

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Risk-Based Asset Management (RBAM): Accounting for Risk in Your Asset Management Strategy

Sept. 14, 2023
What if you could get more out of assets, reduce the risk of critical failures AND keep all your stakeholders happy? It’s called risk-based asset management, or RBAM, and it’ll...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!