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Porsche valuation of 76 billion Euros exceeds IPO expectations | DW News

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German luxury and sports car manufacturer Porsche pealed out onto the Frankfurt Stock Exchange in the largest IPO Germany has seen in decades. Shares rose to 84 euros shortly after traders got the green light. It was a higher then expected start compaired to VW's inital asking price of 82.50 euros. That give's Porsche a valuation of 76 billion euros. While the initial public offering comes at a time when markets are in turmoil, due to surging inflation and recession worries, Volkswagen expects to raise over 9 Billion euros from the sale of Porsche shares.

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#Porsche #IPO
Category
Europe
Tags
DW News, porsche, porsche ipo
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