Porsche Downplays IPO Talk

FRANKFURT -- Porsche does not need a stock market listing to fund growth, CEO Oliver Blume said, adding he is confident the maker of the iconic 911 sports car can repeat last year's record sales in 2018. “We would likely be viewed as a luxury goods manufacturer and the multiples are completely different compared with a normal premium brand,” Meschke told reporters at Porsche's development center last Friday.