Porsche is expected to raise in the region of £17 billion to invest in electric vehicle (EV) development after being priced at around 75 billion euros (£67.2bn) in today’s IPO.
The offering will be the second-largest in the history of the German stock exchange in 1996, according to Reuters, putting it close to the market capitalisation of its parent company Volkswagen.
"Porsche was and is the pearl in the Volkswagen Group," Chris-Oliver Schickentanz, chief investment officer at fund manager Capitell told the news agency.
"The IPO has now made it very, very transparent what value the market brings to Porsche. That, of course, also has a positive effect on Volkswagen shareholders."
Porsche’s shift to part public ownership follows an IPO completed by rival premium performance EV brand Polestar earlier this year.
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