Volkswagen’s Porsche IPO prices at top of its range

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.

/zigman2/quotes/206919008/delayed

Add to watchlist XE:VOW

Volkswagen AG

XE : Germany: Xetra

€ 126.55

-0.60 -0.47%

Volume: 6,255

Sept. 27, 2023 10:21a

P/E Ratio

5.27

Dividend Yield

6.87%

Market Cap

€61.72 billion

Rev. per Employee

€448,656

/zigman2/quotes/239252399/delayed

Add to watchlist DE:P911

Porsche AG Pfd.

DE : Germany: Frankfurt

€ 89.74

-0.28 -0.31%

Volume: 563.00

Sept. 27, 2023 10:19a

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

€75.16 billion

Rev. per Employee

€895,718