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Porsche IPOs with €75bn market cap, Germany’s largest in decades
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Shares in luxury vehicle maker Porsche edged higher in its first day of trade on 29 September, after pricing at the top end of the range.
Porsche AG preference shares, which do not carry voting rights, opened at €84 after pricing at €82.50, giving it a market cap of €75 bn. The stock then traded in a tight range. In a nod to its most famous product, Porsche has 911 million shares outstanding. It’s the biggest IPO in Germany in more than 25 years.
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