Shares rose nearly 3 percent and closed at $81.88; the biggest listing in Germany in 26 years; Abu Dhabi’s ADX and Qatar’s QIA among cornerstone investors
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Volkswagen targets $9.4 billion raise in Porsche IPO
The initial public offering (IPO) is the largest of its kind in Europe in over a decade and is expected to reopen European markets, which have been impacted from the ongoing Ukraine-Russia conflict, inflation and high interest rates
automobile industry
Volkswagen to list biggest Porsche IPO, valuing sports carmaker at $84 billion
The offering could value Porsche between 60 billion and 85 billion euros ($84 billion), and is targeted for the end of September or beginning of October and is expected to be completed by year end, subject to capital market conditions
