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9/29/2022, 10:05 AM (Source: TeleTrader)
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Porsche valued at €75 billion after IPO

Dr. Ing. h.c. F. Porsche AG started trading at €84 per share on Thursday after its initial public offering, meaning that the company is valued at €75 billion.

Volkswagen AG, which will be left with a 75 % stake in Porsche AG after the IPO, listed 12.5% of Porsche AG with the IPO share price range of between €76.5 to €82.5. Shares listed today will trade at the Frankfurt Stock Exchange under the "P911" symbol.

Porsche Automobil Holding SE, a separate company owned by the Porsche and Piech families, will acquire the remaining 12.5% stake in Porsche AG. At the same time, Porsche SE also owns 31.4% and majority voting rights in Volkswagen AG.

"We are beginning a new chapter in the unique history of our company," Porsche AG Executive Board Chairman Oliver Blume (pictured right) said in a press release.

Baha Breaking News (BBN) / MS