Porsche becomes more valuable in Europe

Porsche becomes more valuable in Europe

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    German car manufacturer Porsche has become the most valuable car manufacturer in Europe.

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    Shares of German carmaker Porsche, which went public on the German Stock Exchange early last month, rose sharply on Thursday, beating rivals.

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    Porsche shares rose to 93 euros. This allowed the company to reach a valuation of 85 billion euros. In this way, Porsche succeeded in surpassing its parent brand Volkswagen, which is worth 77.8 billion euros.

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    Currently, after Porsche and Volkswagen in the European car market, Mercedes-Benz is the third largest car manufacturer in the continent with a value of 57.2 billion euros. These manufacturers are followed by BMW and Stellantis with 47.5 billion euros and 39.7 billion euros, respectively.

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    Porsche closed the day with a value of 75 billion euros and a share price of 82.50 euros on the day it entered the stock market for the first time. Then, at the beginning of the week, the company’s share price fell to 81 euros, but on Thursday it rose to 93 euros.

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    With this public offering, Porsche was able to raise a total of 19.5 billion euros.

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    Some of this money goes to Volkswagen, while the rest stays with the company.

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    The company is actually one of the first sports car manufacturers to go public. In 2015, the Italian car manufacturer Ferrari also went public.

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