It was a few weeks ago that the initial public offering of the Porsche company was launched in the Frankfurt Stock Exchange and this action had a great positive impact on the value of the automobile company’s shares. So that now this company has become the most valuable European car manufacturer by overtaking Volkswagen.
A few days ago, the price of each Porsche share reached 93 euros, and this brought the total value of the company to 85 billion euros. With this price increase, Porsche was able to reject the value of 77.8 billion euros of Volkswagen company and took the title of the most valuable European car manufacturer. After Porsche and Volkswagen, Mercedes and BMW companies are in the next positions with values of 57.2 billion euros and 47.5 billion euros, respectively.
On the first day of the Porsche stock offering in the Frankfurt Stock Exchange, the price per share of this carmaker was 82.50 euros and at one point it even reached 81 euros, but then its share price increased and reached 93 euros. This world-renowned automobile company reached a profit of 19.5 billion euros from the offering of its shares in the Frankfurt Stock Exchange. With these interpretations, Porsche is the fifth valuable company whose shares are listed on the German stock exchange. According to Reuters, Porsche is now the 25th most valuable European company (among all European companies).
Before Porsche, another famous car manufacturer in the world, namely Ferrari, also offered its shares in the Frankfurt Stock Exchange a few years ago, which, despite the not so positive feedback at the beginning of the offer, continued to achieve many successes. It is common for companies’ stock values to go up and down in the stock market, and maybe in the coming weeks and months, Volkswagen will be able to increase its stock value and regain the position of the most valuable European car manufacturer.