Porsche
Porsche is considered a sure-fire success among investment bankers – if only because of the brand.
(Photo: AP)
Demand for Porsche AG shares is already very high on the first day of the subscription period. “There’s a lot of interest, everyone doesn’t want to miss the train,” an investment banker said on Tuesday. The issue is expected to be oversubscribed across the entire price range, including at the top end.
The so-called “covered message” – that orders for all shares for sale have been received – was sent out on Tuesday around noon European time, it said. However, the rule of thumb for banks is that at least twice as many orders must have been received as there are shares on offer for the IPO to be a success.
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