- Volkswagen AG VWAGY owned luxury sports car brand Porsche AG shares are expected to be priced at the top end of the range in the upcoming listing.
- The expected range is likely to value the carmaker up to €75 billion ($72 billion), Reuters reported.
- The luxury car maker’s books were covered multiple times ahead of the IPO on September 29, the report cited bookrunners.
- Also Read: Porsche To Hire Former Mercedes Executive Amidst Potential IPO Plans
- Porsche AG is expected to start trading on the Frankfurt stock exchange on September 29.
- A total of 911 million shares will be divided into 455.5 million preferred shares and 455.5 million ordinary shares.
- Price Action: VWAGY shares closed lower by 1.43% at $18.33 on Monday.
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