Porsche shares to be issued at 82.50 eur/shr

FRANKFURT (Reuters) – Shares in Porsche AG will be issued at 82.50 euros per share, the top end of an initial range given earlier this month, parent Volkswagen said on Wednesday.

Volkswagen had set the pricing range at 76.50-82.50 euros a share for Porsche AG’s initial public offering, and bookmakers earlier this week suggested that the top end of the range will be met.

Shares in Porsche AG will start trading on Frankfurt’s stock exchange on Thursday.

(Reporting by Christoph Steitz and Akriti Sharma; Editing by Ludwig Burger and Mark Porter)