Stock exchange in Frankfurt: Dax starts with minus – Porsche IPO

The attempt to stabilize the Dax is already beginning to falter again on Thursday.

Stock exchange in Frankfurt: Dax starts with minus – Porsche IPO

The attempt to stabilize the Dax is already beginning to falter again on Thursday. Shortly after the start of trading, the leading German index was down 0.3 percent at 12,141 points. The day before, the Dax had meanwhile dropped to the level of November 2020 with 11,862 points, but after a minus of 2.3 percent it had finally made it into the black.

The MDax lost half a percent on Thursday to 22,208 points and the leading eurozone index EuroStoxx 50 also lost 0.5 percent.

The main focus is on the IPO of Porsche AG - the sports car subsidiary of Volkswagen. The largest German IPO since Telekom in 1996 took place amidst tense financial markets. The issue price per preferred share was set at EUR 82.50 on Wednesday and was thus at the upper end of the range of EUR 76.50 to EUR 82.50 per security previously announced .

VW preference shares and the papers of their major shareholder Porsche SE Automobil Holding have hardly changed. Share certificates of Porsche AG are still being priced.

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