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 share.

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


(END) Dow Jones Newswires

December 10, 2021 03:33 ET (08:33 GMT)

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