STORY: The largest IPO in Germany for more than 25 years is wrapped up. The Wolfsburg carmaker Volkswagen placed 113.9 million preferred shares in the Stuttgart sports car subsidiary Porsche at a price of 82.50 euros each with new shareholders, as it announced on Wednesday evening. With a volume of 9.4 billion euros, it is the second largest new issue in Germany, just surpassed only by Deutsche Telekom’s IPO in 1996. All of the proceeds go to Volkswagen. At the issue price, Porsche AG has a market value of 75 billion euros. Porsche shares will be traded on the Frankfurt Stock Exchange for the first time on Thursday. CEO Oliver Blume wants to start trading himself with the big stock market bell. Despite the weak stock markets, the issue price was at the upper end of the price range, which ranged from EUR 76.50 to EUR 82.50. According to insiders, there were subscription orders for more than 50 billion euros, and the issue was oversubscribed many times over. However, Porsche is not suitable as an “icebreaker” for further IPOs this year. The radiance of the brand is unique.