Porsche consolidated its position at the forefront of European car companies on Friday, after yesterday overtaking its parent company Volkswagen as its shares continued to rise.
register company stock 92 euros giving it a market value of 83 billion euros, exceeding Volkswagen’s market value of 78.1 billion euros.
Volkswagen sells about 10 million cars a year, compared to Porsche’s delivery of about 300,000.
Porsche shares began trading on the Frankfurt Stock Exchange in late September, after the IPO share price was set at the maximum indicative range of €82.5 per share, signaling strong demand for the stock in one of Europe’s largest ever IPOs.
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