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Sept. 28, 2022, 4:59 p.m. EDT

Volkswagen’s Porsche IPO prices at top of its range

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By Claudia Assis

Volkswagen AG said late Wednesday that it priced Porsche AG’s initial public offering at the top of its range, setting the sports-car maker’s IPO on a course to be among the largest ever in Europe.

VW /zigman2/quotes/206919008/delayed XE:VOW -0.47% priced the IPO at EUR82.50 a share, or about $80, valuing Porsche /zigman2/quotes/239252399/delayed DE:P911 -0.31% at more than $70 billion. In a nod to Porsche’s iconic 911 two-door car, first introduced in the mid-1960s, 911 million shares were made available.

See also: Porsche IPO is set for Thursday. Here’s what to know.

Porsche shares are expected to trade on the Frankfurt Stock Exchange on Thursday.

VW is planning to distribute 49% of the proceeds in a special dividend, and set a December meeting to put the proposal to a shareholder vote.

XE : Germany: Xetra
-0.60 -0.47%
Volume: 6,255
Sept. 27, 2023 10:21a
P/E Ratio
Dividend Yield
Market Cap
€61.72 billion
Rev. per Employee
DE : Germany: Frankfurt
-0.28 -0.31%
Volume: 563.00
Sept. 27, 2023 10:19a
P/E Ratio
Dividend Yield
Market Cap
€75.16 billion
Rev. per Employee

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