Since the IPO, the carmaker’s shares have risen by 20 percent.
(Photo: Reuters)
Dusseldorf A month after the IPO, the shares of the sports car manufacturer Porsche have reached a new high. On Friday, the paper rose to 101.10 euros. Most recently, it was listed just below the 100 euro mark. Since the IPO on September 29, the share has risen by 20 percent. The first course was 84 euros at the time.
The first quarterly figures after the IPO supported the price on Friday. Porsche increased operating profit by 41 percent in the first nine months of the year after deliveries rose on robust demand for high-margin models like the 911.
However, the EUR 100 mark is proving to be stubborn resistance for the share. The stocks have been trading in this area for the entire week. At the close of the market, however, they were always quoted below the price.
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