Porsche Raises 4.9 Billion Euros in Offer Ahead of VW Merger

Porsche SE raised 4.9 billion euros ($7.1 billion) in a rights offering, boosting the sports-car maker’s chances of completing a merger with Volkswagen AG.

A total of 99.7 percent of the available preferred shares were bought in the rights offering, with the remainder sold on the open market, the Stuttgart, Germany-based company said today in an e-mailed statement. The Porsche and Piech families, who control the common stock, also participated.