Porsche IPO in Frankfurt
The IPO of Porsche AG starts promisingly this Thursday. The first price of the sports car manufacturer was 84.00 euros, after an issue price of 82.50 euros. The Stuttgart luxury car manufacturer was thus valued at 75 billion euros. In a weak stock market environment, however, the share then fell in the direction of the issue price.
With an issue volume of 9.4 billion euros, the Porsche IPO is the world’s largest initial public offering (IPO) in the third quarter and the third largest so far this year. In Europe, the Porsche IPO is the largest transaction of this type in eleven years: the Glencore IPO in 2011 had a higher issue volume, according to calculations by the business consultancy EY (Ernst & Young).
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