Volkswagen raked in €9.1 billion via the sale of preferred shares in sportscar brand Porsche, less than the maximum because a greenshoe option was only partially exercised, it said today.
That puts the free-float of Porsche's preferred shares at 24.2%, the carmaker said.
Volkswagen would have received €9.4 billion in case of a fully drawn greenshoe option, it said last month.
Stabilisation manager Bank of America gave notice to Volkswagen to partially exercise the greenshoe option in the amount of 11,059,061 non-voting preferred shares of Porsche, Volkswagen said.
Total proceeds for Volkswagen, which include the sale of 25% plus one ordinary share of Porsche AG to Porsche SE, therefore stand at €19.2 billion.
Volkswagen listed Porsche on the Frankfurt stock exchange last month in what has been Germany's second-largest listing on record.
Since the listing, Porsche shares have gained 5.8%, giving it a market valuation of €79.5 billion, more than the €74.5 billion for parent Volkswagen.
