Trending: Volkswagen Values Porsche at About $73 Billion; Shares Rise Above IPO Price
29 September 2022 - 04:48PM
Dow Jones News
1418 GMT - Porsche Automobil Holding SE is among the most
mentioned companies across news items over the past 12 hours,
according to Factiva data, after Volkswagen AG, of which it owns
more than 50%, priced the initial public offering of Porsche AG at
the top end of the targeted range. Volkswagen said it priced its
offering of preferred stock at the top of the range at EUR82.50 a
share, meaning the sports-car maker is valued at more than EUR75
billion, or about $73 billion. Porsche AG shares started trading
almost 2% above the IPO price on Thursday morning and later rose to
above 4%. Dow Jones & Co. owns Factiva.
(cecilia.butini@wsj.com)
(END) Dow Jones Newswires
September 29, 2022 10:33 ET (14:33 GMT)
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