- Porsche Automobile Holding SE POAHF has overtaken its former parent company, Volkswagen AG VWAGY, as Europe's most valuable automaker.
- The shares of the newly listed luxury sports car maker shot up to €93 in Frankfurt on Thursday.
- Going by the rise in shares, the sportscar brand commands a market valuation of €85 billion, Reuters reported, overtaking Volkswagen.
- Also Read: Porsche With No Brakes - Shares Race Higher In Landmark Frankfurt IPO
- Volkswagen has taken the second position, valued at €77.7 billion, and the third place is taken by Mercedes Benz Group AG MBGAF with a €57.2 billion valuation.
- Porsche started trading in Frankfurt last week after the IPO was priced at €82.50.
- Price Action: POAHF shares are trading lower by 0.16% at $59.80 on the last check Thursday.
- Photo Via Company
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