Porsche Rises in Landmark IPO Weathering Tough Markets
- Parent VW set maximum share price for $73 billion valuation
- Some investors have balked at the complicated ownership setup
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Porsche AG gained during its trading debut after parent Volkswagen AG set the final listing price for the sports-car company at the upper limit in defiance of market upheaval.
The maker of the 911 rose as much as 2.9% to €84.88 in Frankfurt, against a decline of as much as 2% in Germany’s leading DAX index. The offer price of €82.50, the top end of VW’s initial range for the shares, valued the company at €75 billion ($73 billion).