: Porsche Prices $7 Billion Share Issue

Porsche said Sunday night that it had priced its issue of new shares at 38 euros, putting the value of the offering at 4.9 billion euros, or $7 billion.The carmaker, which is set to merge with Germany’s largest automaker, Volkswagen, is offering shareholders three-quarters of a new share for every old share they own, the price at a steep discount to its Friday close at 56.22 euros.Porsche shares fell 2.05 euros, or 3.65 percent, to 54.17 euros in Monday morning trading.