Porsche Automobil Holding SE ADR (POAHY)

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Volkswagen's IPO Price Range for Porsche AG in Line With Expectations -- Market Talk
2:47 am ET September 19, 2022 (Dow Jones) Print
0647 GMT - Volkswagen and its shareholder Porsche SE will likely trade slightly higher on Monday after releasing more details about the planned listing of sports-car maker Porsche AG, a trader says. While both companies' shares aren't expected to rise significantly, because the new details are largely in line with expectations, the forecasted proceeds from the unit's IPO will be available for investments in technologies and are clearly positive, the trader says. Volkswagen is targeting a Porsche AG valuation of up to EUR75 billion, and intends to list the subsidiary's shares at between EUR76.50 and EUR82.50, in the middle range of analysts' expectations. Porsche AG is set to begin trading on Sept. 29. ([e-mail])


(END) Dow Jones Newswires

September 19, 2022 02:47 ET (06:47 GMT)

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