One week after its initial public offering, Porsche AG surpassed its parent company Volkswagen AG to become the most valuable automaker in Europe. At 2:17 p.m. Frankfurt time, the German sports car maker's preferred stock rose 3.1% to 9.068 euros, with a market value of 82.7 bill

One week after its initial public offering, Porsche AG surpassed its parent company Volkswagen AG, becoming the most valuable automaker in Europe.

Frankfurt time at 2:17 pm, the German sports car manufacturer's preferred stock rose 3.1% to 90.68 euros, with a market value of 82.7 billion euros (about 81.5 billion US dollars), slightly higher than the 278.6 billion euros valuation of Volkswagen valuation. Volkswagen sells about 10 million cars a year, while the delivery of Porsche is 300,000.

The most revenue-generating automaker in Europe, Porsche (Porsche), raised 9.4 billion euros last week, and Porsche, one of the group's main profit contributors, returned to the stock market, the largest IPO in the region in 10 years since mining giant Glencore (Glencore Plc).

Porsche rebounded this week after falling below the issue price on Monday under wider market pressure, and currently trading premium is about 10%. In the face of strong demand, the price of this listing is at the top of the price range.

Porsche's IPO enters the open market is a bold move. IPOs have been largely not allowed for most of the year due to the European energy crisis, rising interest rates and record inflation. For Volkswagen, the stock sale is to raise funds and invest in the promotion of its electric car . Investors can learn from the listing process of another brand Ferrari (Ferrari NV). Ferrari was also successfully separated from its parent company Fiat ( Fiat) in 2015.

Bank of America Corp. said in a statement late Wednesday that the bank is one of four global coordination agencies, , a Porsche initial public offering. The bank provided support for Porsche stock in the days after its listing, buying Porsche stock from September 29 to October 4.

Volkswagen said in a statement that measures to stabilize Porsche's share price are seen as part of the IPO process, and inflation data for September, concerns over Europe's energy supply last week and a deterioration in Ukraine's geopolitical situation "makes minor stabilization measures necessary."