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Porsche Shares Drop Below IPO Price Within Days of Making Debut

Oct. 3, 2022, 8:46 AM

Porsche AG stock traded below the price it debuted at last week, succumbing to the market pressures Volkswagen AG defied by going ahead with Europe’s biggest initial public offering in more than a decade.

The sports-car maker’s shares traded down as much as 1.8% to €81 on Monday, roughly in line with the drop in the blue chip Euro Stoxx 50 Index. Porsche debuted at €82.50 -- the high end of the range VW sought -- on Sept. 29 in Europe’s biggest IPO since miner Glencore Plc raised almost $10 billion in 2011.

Porsche’s listing reaped roughly €9.4 billion ...