Porsche's $120b IPO pitch shows limits of luxury - The Australian Financial Review

‘Porsche isn’t a safe bet in a recession because it’s not as exclusive as Ferrari,’ says Daniel Roeska, an auto analyst at Bernstein.

Still, an IPO of that size is so rare in Europe that it can defy the broader market slump, with portfolio managers forced to take a hard look at the candidate because it will automatically enter the … [+2186 chars]

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