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Porsche IPO to Raise up to $9.4 Billion for Parent VW

  • Carmaker confirms four cornerstone investors for listing
  • Share sale could be Europe’s largest listing in a decade
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WATCH: VW is looking to raise as much as 9.4 billion euros from the Porsche IPO. Cristoph Rauwald reports.Source: Bloomberg
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Volkswagen AG is looking to raise as much as 9.4 billion euros ($9.4 billion) from the initial public offering of its iconic sports-car maker Porsche AG in what could be Europe’s largest listing in more than a decade.

The German carmaker said late Sunday it is seeking a valuation of 70 billion to 75 billion euros for the listing, below an earlier top-end goal of as much as 85 billion euros, with the deal going ahead at a time of deep market upheaval. European markets have been largely shut to IPOs for most of the year, with companies shying away from seeking new listings because of the region’s energy crisis, rising interest rates and record inflation.