IPO - Run on Porsche shares - Economy

The IPO of Porsche AG is met with great demand from investors. The accompanying banks reported on Tuesday, just one and a half hours after the official start of the subscription period, that the order books were "many times oversubscribed across the entire price range". The owner of the Stuttgart sports car manufacturer, Volkswagen, is still offering 113.9 million Porsche preferred shares in a range of 76.50 to 82.50 euros until September 28th. In other IPOs, it often takes days for subscription orders to exceed supply. Numerous funds are waiting for this message before they take action themselves. For around 40 percent of the issue volume - i.e. up to 3.68 billion euros - Volkswagen had already obtained firm commitments from anchor investors in advance. Qatar alone wants to subscribe to shares for up to 1.88 billion euros.

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