Norway’s Oil Fund wants to spend billions on Porsche shares when the luxury brand goes public.
According to Porsche owner Volkswagen, the Oil Fund has subscribed for shares worth EUR 750 million – around NOK 7.66 billion – in connection with the stock market listing, E24 writes.
Earlier in the month, it became known that the German car group would go public. The brand is known for, among other things, the classic 911, the SUV Cayenne, and the electric Taycan.
The listing will take place on September 29.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews
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