MUNICH: Volkswagen AG is likely to price the initial public offering (IPO) of sports-car maker Porsche AG at the top end of an initial range, demonstrating the depth of demand for its share sale, according to terms seen by Bloomberg.
Investor orders below €82.50 (US$79 or RM367) a piece risk missing out on the transaction, terms showed. Indicated demand for the offering exceeds deal size, according to the terms, despite market turbulence and concerns over rising inflation.
The company is expected to set the final IPO offer price after the order book for the share sale closes today.
The new stock will start trading a day later. Volkswagen garnered more than enough investor orders to cover the €9.4bil (RM42bil) IPO. — Bloomberg
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