On Thursday, Porsche AG, under the ticker symbol P911_p, debuted on the Frankfurt Stock Exchange, as owner Volkswagen (ETR: VOWG_p) expects to raise about $9.4 billion in its initial public offerings.

Volkswagen priced 12.5% of preference shares in the famous car brand at $82.50 per share, touching the top end of its previously estimated range and valuing the company at approximately $75 billion. According to Volkswagen, listing shares would give a financial boost of €19.5 billion to Porsche, providing the company with more financial flexibility with electric vehicles.

In consultation with the advising banks, Volkswagen AG has set the placement price of Porsche AG shares at €82.50 per share. The highly anticipated Porsche IPO listing took place on September 29 2022. In the IPO, Porches sold around 114 million Porsche AG shares to the public at a price between €76.50 and €82.50 each.

On September 29, 2022, under the ticker symbol P911, Porsche began selling its shares on the Frankfurt Stock Exchange. As a consequence of the Ukraine war in the recent month, the auto industry and luxury carmakers such as Ferrari, Aston Martin, BMW, and Mercedes Benz have all dropped.