Porsche’s Gray Market Trading Points to Bumper Debut Next Week
- Shares seen at premium of as much as 17% in gray market
- Public debut of the automaker’s shares is set for September 29
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A week before Porsche AG’s first day of trading in Frankfurt, price indications already point to a strong debut for the sports-car maker seeking to defy jittery markets with the biggest European initial public offering in a decade.
The company was trading at as much as 17% above the top end of the 76.5 to 82.5-euro price range marketed at institutional and retail investors, according to unregulated gray market pricing.