It only took Porsche a week after the IPO to overtake its parent company Volkswagen.
company Porsche ranked highest as the most important automaker in Europe, surpassing the former parent company Volkswagenas the sports car maker’s share price rose. On Thursday, October 6, Reuters wrote.
The publication noted that the day’s market value Porsche on the Frankfurt Stock Exchange reached €82.7 billion, while the capitalization Volkswagen reached €78.6 billion.
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“Despite the fact that sharing Porsche on Monday they fell in price due to a significant drop in the markets, on Thursday they rose to €93, giving the sports car brand a market valuation of €85 billion. They later fell to €91.04. The company’s valuation is still higher Volkswagen – slightly less than €84 billion.
Asset price Porsche rose after investment banks involved in the offering bought nearly 3.8 million shares for €312.8 million in a share offering arrangement.
Volkswagen estimated at 77.7 billion euros, mercedes benz ranked third among European automakers with 57.2 billion euros, followed by BMW with 47.5 billion euros and Stellantis with 39.7 billion euros.
Porsche is the fifth most important registered company in Germany after Linde, SAP, Deutsche Telekom and Siemensas well as the 25th most valuable stock in Europe, ahead of Glencore.
In the past, the United States made a rating of the production of cars.
Recall that in 2021 Ukraine took sixth place in the ranking of countries where owning a car is unprofitable.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.