Porsche IPO Poised to Price at Top End of Range: Bookrunners

September 28th, 2022

Awake Goy

BERLIN—Porsche AG shares are poised to price at the top end of the previously announced range, potentially valuing the sports car brand at up to 75 billion euros ($72 billion) in one of Europe’s biggest ever listings.
Several bookrunners involved in the deal said Porsche’s books were covered multiple times ahead of the company’s market debut on Sept. 29.
Volkswagen, Europe’s largest carmaker and Porsche’s owner, said earlier this month it would price preferred shares at 76.50–82.50 euros, giving a valuation of up to 75 billion euros.
Orders below the top end of the range risk missing out, as indicated demand has exceeded the full deal size, bookrunners said, with one describing demand as “incredibly robust”…. Source

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