A company best known for its pricey supercars seems an unlikely name to bring to Europe’s equity capital markets in the teeth of a cost-of-living crisis. It might be an even less obvious candidate at a time when initial public offerings around the world have collapsed amid brutal market downturns as central banks race to tighten monetary conditions.
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But German automaker Porsche AG ploughed on with its flotation at the end of September, bringing Europe’s biggest IPO in 11 years and the second-biggest equity deal of any kind in the world so far this year.
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