Porsche IPO To Be Priced At Top End Of Expected Range

Volkswagen AG (OTC: VWAGY) owned luxury sports car brand Porsche AG shares are expected to be priced at the top end of the range in the upcoming listing.

byShivani Kumaresan

September 27, 2022

1 minute read

Volkswagen AG (OTC:VWAGY) owned luxury sports car brand Porsche AG shares are expected to be priced at the top end of the range in the upcoming listing.
The expected range is likely to value the carmaker up to €75 billion ($72 billion), Reuters reported.
The luxury car maker’s books were covered multiple times ahead of the IPO on September 29, the report cited bookrunners.
Also Read: Porsche To Hire Former Mercedes Executive Amidst Potential IPO Plans
Porsche AG is expected to start trading on the Frankfurt stock exchange on September 29.
A total of 911 million shares will be divided into 455.5 million preferred shares and 455.5 million ordinary shares.
Price Action: VWAGY shares closed lower by 1.43% at $18.33 on Monday.
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