Stocks are likely to enter the market at the higher end of the price range

Frankfurt The shares of the sports car manufacturer Porsche AG are expected to come onto the market at the upper end of the current price range. Investment banks had signaled to investors that the planned issue had already been oversubscribed several times at EUR 82.50, the Handelsblatt learned on Monday from financial circles. The information is consistent with earlier reports that there is high demand both at home and abroad.

The parent company Volkswagen is preparing Porsche AG for an initial public offering (IPO) despite the looming recession and the high volatility on the stock exchanges. The supervisory board had set the price range for the almost 114 million non-voting Porsche preferred shares at between EUR 76.50 and EUR 82.50.