Porsche to IPO in landmark listing Thursday

Porsche plans to go public on Thursday at a $73 billion valuation, catapulting the company to become the world’s fourth-most valuable automaker and netting billions of dollars for parent company Volkswagen to advance its drive toward electric vehicles.
The initial public offering for Porsche AG on the Frankfurt Stock Exchange values the brand at $79 a share in one of Europe’s largest-ever listings. Volkswagen, Europe’s biggest carmaker, is poised to receive more than $9 billion for its stake, positioning it to challenge Tesla for the EV crown.
The juggernaut is poised to overtake Tesla i

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