Friday 10th December 2021
Valued at 23 billion
Daimler Truck makes its stock market debut
After the decision to spin off Daimler, the truck and bus manufacturer Daimler Truck makes its stock market debut. In addition to the traditional stock exchange bell, the horn of an e-truck also sounds. The company wants to lead the industry on the way to CO2-neutral transport.
The truck and bus manufacturer Daimler Truck made its stock market debut as an independent company on Friday in Frankfurt am Main. The share was quoted at the start of trading with a valuation of 28 euros. This means that Daimler Truck was initially valued at around 23 billion euros.
The company described the move to the dance floor as a “milestone” and the beginning of a new era. In future, investors would have the opportunity “to invest directly in the shares of one of the largest commercial vehicle manufacturers in the world,” explained Daimler Truck. According to its own information, the truck and bus manufacturer is now aiming for the share to be included in the Dax stock exchange index, which has expanded to 40 members, at the next possible date on the Frankfurt Stock Exchange – “probably in the first quarter of 2022”.
“Our truck and bus business was part of the Daimler Group for 125 years – now we are becoming an independent, listed company,” explained CEO Martin Daum. In future, “the design options as an independent company” should be used, he announced. According to the company, Daimler Truck wants to “consistently and continuously focus on improving profitability” in order to “lead the industry on the path to CO 2 -neutral transport”. The horn of an “Actros” truck, the flagship of Daimler Truck, sounded at the same time as the traditional bell of the stock exchange.
Daimler Truck unites seven brands
At the beginning of October, the shareholders of the car manufacturer Daimler approved the spin-off of the truck division. At a virtual general meeting, 99.9 percent of the shareholders voted for the move. Daimler CEO Ola Källenius emphasized on Friday that the Stuttgart-based carmaker would now “fully” concentrate on “building the most desirable cars in the world and taking the lead in electromobility and vehicle software”.
Daimler Truck unites seven brands under one roof: BharatBenz for the Indian market, the US brands Freightliner, Western Star and Thomas Built Buses, the former Mitsubishi brand Fuso, Mercedes-Benz and Setra. According to its own information, the company employs more than 100,000 people at over 40 production sites worldwide.