Porsche shares rise in one of Europe’s largest market debuts FRANKFURT, Germany (AP) — Shares in luxury carmaker Porsche AG rose on their first day of public trading after German parent company Volkswagen raised 9.4 billion euros ($9.1 billion) for one of the largest initial public offerings in European history . Shares traded at 85.68 euros on the Frankfurt Stock Exchange on Thursday, above the initial offering price of 82.50 euros established Wednesday after Volkswagen lined up investors to buy shares for a minority stake in the maker of the 911 sports car and Cayenne SUV. Volkswagen plans to use use the money to invest in software and electric vehicles as global auto industry shifts its focus to the energy transition . The IPO was a venture into turbulent markets , as the war in Ukraine, inflation, rising interest rates and a global energy crunch have raised fears of recession in major economies such as Europe and the U.S. Europe’s Stoxx 600 index last week fell into bear market territory. Still, investors snapped up the shares at the top end of the initial offer range, attracted by Porsche’s strong profit margins and recession-resistant luxury business.