Volkswagen prices Porsche shares at top tier range on strong demand

RIYADH: Volkswagen-owned Porsche is set to price its initial offering of stock at the high end of the planned range, Bloomberg reported

The share price was set at $80 per share, valuing the company at $73 billion, as it aims to pull off Europe’s largest initial public offering in a decade despite the turmoil in capital markets.

Porsche opens its Frankfurt stock market trading on Thursday, Sep. 29, for the first time.