Porsche AG will kick off its first trading day in the stock market on Thursday after Volkswagen decided to price its luxury car unit at the top end of the announced range at 82.50 euros per share.
Despite the ongoing market turmoil, Volkswagen remains committed to its guideline, saying that the volatility is precisely why fund managers with money to invest are in need of a stable and attractive stock, which is Porsche AG.
Meanwhile, valuations of other luxury brands, such as Aston Martin and Ferrari, have fallen recently.
The market value of Porsche AG is running at 75 billion euros ($72 billion) in one of Europe’s biggest ever listings.
The preference shares of Porsche AG will be traded on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) under the ticker symbol P911 GY (Xetra) as of 29 September 2022