Shares of luxury sportscar maker Porsche (POAHF) rose immediately following their initial public
offering (IPO), which was one of the biggest stock offerings in European history.
Shares of the iconic sports car brand initially traded at 84 euros ($81 U.S.) after being priced at
the top end of their range at 82.50 euros.
The IPO valued the German automaker at 75 billion euros ($73 billion U.S.). Porsche shares
had steadied at 84.50 euros in mid-morning trading in London, England.
Porsche’s parent company, Volkswagen (VLKAF) had offered 911 million shares in the IPO, a
nod to Porsche’s famous 911 sportscar model.
Reaction to the IPO was positive, with institutional investors claiming around 40% of the shares
on offer.
Listing shares should give Porsche a financial boost of nearly 20 billion euros, providing the
company with more money to invest in electric vehicles.
The Porsche IPO comes amid ongoing stock market volatility that has seen public listings of
companies dry up this year.
In 2021, a total of 1,073 companies went public, raising $317 billion U.S. However, in this year’s
first half, only 92 companies held IPOs, raising $9 billion U.S., according to data published by
Forbes Magazine.
