Porsche becomes Europe's most valuable automaker, valued at €85 bn

Porsche overtook parent company Volkswagen to become Europe's most valuable carmaker as its market valuation reached €85 billion. After falling below the listing price on Monday, Porsche's shares rose as investment banks bought 3.8 million shares for €312.8 million as part of the company's greenshoe option. Measures taken to stabilise Porsche's share price were seen as part of the IPO.