Porsche IPO To Be Priced At Top End Of Expected Range - Volkswagen (OTC:VWAGY)

  • 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 ReadPorsche 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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Image and article originally from www.benzinga.com. Read the original article here.