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Porsche shares
P911,
have traded higher on Thursday after a well-received initial public offering in Germany’s biggest new issue in decades.
If you’re a U.S.-based investor interested in purchasing shares of the German automobile maker, the bad news is that there’s no offering on the New York Stock Exchange or the Nasdaq.
But U.S.-based brokerages do offer the ability for investors to buy stocks on foreign exchanges, such as the Frankfurt exchange, where Porsche shares trade. These trades are harder to place and typically carry extra fees.
Charles Schwab, for example, doesn’t allow such trades online but does permit them through a broker. Fidelity doesn’t allow U.S. investors to buy foreign stocks on margin, bars short sales and limits order instructions.
Also, there is an over-the-counter offer of Porsche Automobil Holding
POAHY,
That investment vehicle now holds a 25% stake in Porsche, plus some 53% of Volkswagen
VOW3,
Also read: Here’s what to know about the Porsche IPO
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