Banks had to massively support Porsche shares after the IPO

Frankfurt The accompanying investment banks have massively supported the share price of Porsche AG in the days after the IPO of the Stuttgart sports car manufacturer. To do this, they bought almost 3.8 million Porsche shares for 312.8 million euros from Thursday, September 29th to Tuesday, October 4th, according to a mandatory announcement by the Bank of America (BofA Securities Europe) commissioned with this on Wednesday evening. The measures were taken at prices between 81 and 82.50 euros.

Already on the first day of trading, the newcomer on the stock exchange came under selling pressure because the overall market had been weak. For this reason, 1.8 million securities were purchased on this day via Xetra for support. The preferential securities from the possession of the previous sole owner Volkswagen were initially offered in a range between 76.50 and 82.50 euros and then came on the market at 82.50 euros. The first rate was 84 euros.