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Investing.com — Shares in Dr. Ing. h.c. F. Porsche AG Preferred (F:P911_p) debuted on the Frankfurt Stock Exchange on Thursday, as owner Volkswagen (ETR:VOWG) hopes to raise about €9.4 billion in one of the largest European initial public offerings on record.
VW priced 12.5% of preference shares in the famous car brand at €82.50 per share, hitting the top end of its previously estimated range and valuing the company at approximately €75 billion. These shares do not hold any voting rights.
The listing will also see the Porsche-Piëch families snap up 25% plus one share in ordinary shares in the Stuttgart-based group at a 7.5% premium.
