Daimler Truck begins trading on the Frankfurt Stock Exchange; Store
(RTTNews) – Daimler Truck AG, which has been separated from German automaker Daimler AG (DDAIF.PK), has started trading its shares on the Frankfurt Stock Exchange, possibly marking the most important milestone in its history.
On the first day of its listing, the share of the manufacturer of commercial vehicles currently stands at 29.81 euros, an increase of 6.46%.
Daimler Truck shares are traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the ticker symbol DTG. The company expects its shares to be listed on the regulated market of the Frankfurt Stock Exchange in the DAX index, which has been expanded to 40 members, at the next possible date – possibly in the first quarter of 2022.
Following the Daimler AG split after 125 years, Daimler Truck has stated that it has a consistent and continuous focus on improving profitability. The company aims to achieve double-digit return on sales in its industrial business by 2025, assuming favorable market conditions.
Based on its proven cash generation and strong balance sheet, Daimler Truck has received strong investment grade credit ratings.
Jochen Goetz, CFO of Daimler Truck Holding, said: “Daimler Truck is also financially in a very good starting position for our entrepreneurial independence. Our balance sheet is strong and we have already proven in the past how reliably we can generate cash We are now putting all of our energy into fully exploiting our revenue potential and driving forward the transformation towards emission-free transport in a targeted manner . ”
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