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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Demand for Porsche AG listing strong as retail investor subscription period begins

    Published by Jessica Weisman-Pitts

    Posted on September 20, 2022

    Featured image for article about Top Stories

    BERLIN (Reuters) -The books for Volkswagen’s hotly anticipated initial public offering of Porsche AG are covered multiple times on the full size of the deal, a bookrunner involved in the listing said on Tuesday.

    Indicated demand for the listing, due to take place on Sept. 29 at the Frankfurt Stock Exchange, exceeds the full deal size, the bookrunning said.

    The subscription period for private and institutional investors kicked off on Tuesday and will run until Sept. 28, with shares offered to private investors in Germany, Austria, Switzerland, France, Italy and Spain.

    The price range was being well-received on the market with a good global breadth of demand in the United States, Europe and Asia, a source close to the IPO said. It was too early for visibility on retail demand, they added.

    Cornerstone investors have already laid claim to 40% of the shares on offer, including Qatar Investment Authority, which is buying 4.99% of the offering; Abu Dhabi’s ADQ, which is investing 350 million euros; and T. Rowe Price and Norway’s sovereign wealth fund, investing 750 million euros each.

    Total proceeds from the sale will be 18.1-19.5 billion euros and could help Volkswagen fund its electrification drive.

    (Reporting by Matt Scuffham, Lucy Raitano in London, Victoria Waldersee in Berlin; Editing by Miranda Murray and Madeline Chambers)

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