Porsche IPO raises up to 9.4 billion euros

Volkswagen wants to take up to 9.39 billion euros with the IPO of the sports car subsidiary Porsche AG. Up to 113.9 million preferred shares of the Stuttgart company are to be sold in a range between 76.50 and 82.50 euros, as Volkswagen announced on Sunday evening. Porsche AG is thus valued at 70 to 75 billion euros. The Wolfsburg carmaker confirmed a report by the Reuters news agency. Investors can now subscribe to Porsche shares from Monday. The return of the sports car manufacturer to the Frankfurt Stock Exchange is planned for September 29th. It would be one of the largest IPOs in Europe in the past 20 years.

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