Germany-based multinational automotive manufacturer Volkswagen AG (VWAGY) (DE:VOW) has set the final IPO price for the luxury sports car maker Porsche at the top end of its €76.50 - €82.50 price range. With the estimated market capitalization of Porsche at €75 billion, this marks the largest initial public offering in Europe in the last ten years. Porsche shares began trading on the Frankfurt Stock Exchange under the ticker symbol P911 today. Shares of Volkswagen AG are trading 5% higher in the early trading hours today, while shares of Porsche AG gained 3% to €85 per share during its debut trading session in Frankfurt.
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