Porsche Investor Demand Exceeds $9.4 Billion Offering in Hours
- Demand for shares throughout price range, terms show
- Porsche parent VW selling shares at 76.50 euros to 82.50 euros
This article is for subscribers only.
Volkswagen AG garnered more than enough investor orders to cover the 9.4 billion-euro ($9.4 billion) initial public offering of its sports-car maker Porsche AG just hours after it started taking requests for the share sale, according to terms seen by Bloomberg.
The order book, which opened only Tuesday morning, has been covered multiple times throughout the price range of 76.50 euros to 82.50 euros on the full deal size, the terms showed. Indicated investor demand exceeds the total offering, according to the terms.