Pursuits
Porsche Advances After Investors Back $6.5 Billion Share Sale
This article is for subscribers only.
Porsche SE advanced to the highest in 13 months after investors approved a 5 billion-euro ($6.5 billion) stock sale to reduce the sports-car maker’s debt before a combination with Volkswagen AG, Europe’s largest carmaker.
The preferred shares rose 2.95 euros, or 5.1 percent, to 60.78 euros, the highest since Oct. 20, 2009, and were up 1.9 percent as of 10:31 a.m. in Frankfurt. VW gained 2.1 percent.