On Monday Porsche shares fell to 81 euros, 1.8% below the IPO pricing of 82.50 euros. At 1100 GMT they were trading at 81.48 euro per share, down 1.1%.
Volkswagen priced Porsche AG shares the top end of the indicated range, and raised 19.5 billion euros via the listing to fund the group's electrification drive.
VW said it will raise as much as 9.4 billion euro from the share sale, which will help pay for its shift to electric vehicles and spending on software development.