Home Business Porsche puts the arrow and surpasses Volkswagen: it is the European car manufacturer that is worth more on the market

Porsche puts the arrow and surpasses Volkswagen: it is the European car manufacturer that is worth more on the market

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Porsche puts the arrow and surpasses Volkswagen: it is the European car manufacturer that is worth more on the market

MILANO – Porsche is worth more on the stock market than the parent company Volkswagen. A few sessions after the listing of the luxury car group, the new freshman has already overshadowed her parent company. But there is more, because Porsche has thus become the first car manufacturer in Europe by capitalization, beating the Volkswagen parent company.

He brings it back Bloomberg recalling that last week Volkswagen raised 9.4 billion euros with the listing of Porsche on the stock exchange, which took place on 29 September. Porsche preferred shares rose 3.1% to € 90.68 in Frankfurt, equal to a market value of € 82.7 billion, surpassing Volkswagen’s € 78.7 billion capitalization.

Porsche rebounded this week after dropping below its set IPO price of € 82.5 while it is now trading for a premium of around 10%. The placement price, downstream of a small free float (25% of the preferred shares and 12.5% ​​of the total) and a high demand, was set at the highest price of the announced range (while the minimum was at 76.50 euros).

Ferrariwhich has more limited volumes and revenues, but a profitability even higher than the luxury giants such as Lvmh e Dry, capitalizes 38 billion euros. Porsche expects to close 2022 with 39 billion euros in turnover, the Rossa di Maranello – which has just successfully launched the Purosangue SUV – should close the year with 4.8-4.9 billion in revenues (from 4.3 billion in 2021).

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