Daimler Truck Starts Trading at EUR28.00 a Share
By Kim Richters
Daimler Truck Holding AG started trading on the stock market in
Germany on Friday with an initial price of 28 euros ($31.62) a
The trading debut of the trucks-and-buses manufacturer follows
the spinoff from parent Daimler AG, which is trading 15% lower at
EUR72.96 at 0807 GMT, adjusting for the split.
Auto maker Daimler revealed plans earlier this year to spin off
the trucks business, a move highlighting the pressures on auto
makers to increase their stock-market value. The company said its
car and trucks businesses were distinct, and would operate more
effectively as independent entities.
Analysts at Berenberg said earlier Friday that Daimler Truck's
margins show a convincing upside from an turnaround already under
way in Europe, describing the group as a star in the making.
Write to Kim Richters at firstname.lastname@example.org
(END) Dow Jones Newswires
December 10, 2021 03:33 ET (08:33 GMT)
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