The stabilization period for the initial public offering of Porsche AG has ended with gross proceeds from the sale of preferred shares amounting to around 9.1 billion euros ($8.82 billion), Volkswagen said on Tuesday.

Stabilization Manager BofA Securities Europe SA gave notice to Volkswagen to partially exercise the greenshoe option in the amount of 11,059,061 non-voting preferred shares of Porsche, VW said.

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