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The Independent UK

National

David McHugh

Porsche shares rise in one of Europe's largest market debuts

Ferdinand Porsche Europe Luxury

Copyright 2022 The Associated Press. All rights reserved

Shares in luxury carmaker Porsche AG rose on their first day of public trading after German parent company Volkswagen raised 9.4 billion euros ($9.1 billion) for one of the largest initial public offerings in European history.

Shares traded at 85.68 euros on the Frankfurt Stock Exchange on Thursday, above the initial offering price of 82.50 euros established Wednesday after Volkswagen lined up investors to buy shares for a minority stake in the maker of the 911 sports car and Cayenne SUV.

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