Volkswagen said Sunday that it has set price range for initial public offering of preferred shares in sports car brand Porsche AG at 76.50 euros - 82.50 euros per share. In total, up to 113.88 million preferred shares from the holdings of Volkswagen are planned to be placed with investors in the course of the IPO.The anticipated gross proceeds from the IPO is between 8.71 billion euros and 9.39 billion euros.
Volkswagen said earlier this month that it would pursue an initial public offering of the preferred shares of Porsche and list them in Frankfurt at the end of September or beginning of October 2022.
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