Bonus: Porsche shares rise: Porsche distributes IPO bonus of up to 3,000 euros to all employees |  information

Bonus: Porsche shares rise: Porsche distributes IPO bonus of up to 3,000 euros to all employees | information


A spokesperson for the company confirmed the amount of the payment on Monday. “Stuttgarter Zeitung” and “Stuttgarter Nachrichten” previously reported. The cost of such a bonus for 37,000 employees worldwide was given by the Stuttgart carmaker Porsche before the IPO around 250 million euros.

The money should come to the employees’ accounts with the November salary, as the spokeswoman of the labor council said. The amount will be adjusted based on length of service and any part-time work. It was already known that the parent company of VW (Volkswagen (VW) vz) wanted to pay its employees a bonus of 2,000 euros in company tax and in Saxony.

Porsche going to the floor at the end of September brought 9.1 billion euros to the coffers of the VW group. It was Germany’s largest IPO since Telekom in 1996 and this year the world’s second largest after battery cell maker LG Energy Solution.

Porsche shares rose in XETRA trading sometime by 3.12 percent to 58.76 euros.

STUTTGART (dpa-AFX)

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