indicated demand listingIt is scheduled to take place at the Frankfurt Stock Exchange on September 29.
The retail and institutional offering period begins on Tuesday and runs through September 28, offering shares to retail investors in Germany, Austria, Switzerland, France, Italy and Spain.
Sources close to the IPO said the price point was well received by the market, with broad global demand in the US, Europe and Asia. It was too early to know retail demand, they added.
Cornerstone investors have already claimed 40% of the shares on offer, including the Qatar Investment Authority, which has purchased 4.99% of the shares on offer. Abu Dhabi’s ADQ, which invests $350 million. T. Rowe Price and the Norwegian Sovereign Wealth Fund each invested $750 million.
Total proceeds from the sale would be $18.1 billion to $19.5 billion, which could help VW fund its electrified drives.
https://www.autonews.com/automakers-suppliers/porsche-listing-oversubscribed-subscription-period-begins Porsche listings will be oversubscribed when the subscription period begins