Volkswagen: stabilization period over for Porsche IPO

The stabilization period for the initial public offering of Porsche AG has ended with gross proceeds from the sale of preferred shares amounting to around 9.1 billion euros ($8.82 billion), Volkswagen said on Tuesday.

Stabilization manager BofA Securities Europe SA gave notice to Volkswagen to partially exercise the greenshoe option in the amount of 11,059,061 non-voting preferred shares of Porsche, VW said.