A new race for global Porsche in the European markets, after it was announced that the company's shares will start trading on the stock exchange as of today, Thursday, September 29, 2022.
Porsche shares will be listed on the stock market today after Volkswagen priced the shares at the upper end of the announced range, a sign that the luxury car brand has attracted buyers despite the market turmoil.
Carmaker Volkswagen said Porsche's IPO closed on Wednesday with a final price of 82.50 euros, at the upper end of the 76.50 to 82.50 euros range it announced earlier this month.
The inclusion of Porsche, which is expected to save about 19.5 billion euros, or about 19 billion dollars, comes at a time when instability in European markets has almost limited share deals, and shares of automakers, including in the luxury car sector, have fallen.
Volkswagen said market volatility was precisely why fund managers with the money to invest desperately needed stable and attractive stocks like Porsche.
