Split-off truck business: Daimler Truck goes public


Status: 10.12.2021 12:33 p.m.

As of today, Daimler Truck Holding has also been listed on the Frankfurt Stock Exchange as an independent company. The spin-off of the truck business has already paid off for investors.

The truck and bus manufacturer Daimler Truck made its stock market debut in Frankfurt am Main today. Daimler Truck boss Martin Daum, CFO Jochen Götz and Deutsche Börse boss Theodor Weimer rang the bell of the stock exchange, the share was valued at the start of trading at an initial price of 28 euros. This brought the market value of Daimler Truck to a total of around 23 billion euros.

That is at the lower end of the estimates by analysts who had hoped for up to 40 billion euros. The share currently costs just under 30 euros and is around eight percent up.

For the Daimler shareholders, the spin-off of the truck and bus business after 125 years under one roof has paid off for the time being. For every two of their shares they had received a paper from Daimler Truck AG in the depot. At the start of the trading day on Friday, the Daimler AG share price was EUR 73.20, 15 percent below the Xetra closing price on Thursday. A share of Daimler AG and half a Daimler truck paper were already worth 87.20 euros at the start of trading. On Thursday, Daimler had closed at 86.18 euros.

Daimler remains anchor shareholder

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. Daimler AG initially remains an anchor shareholder with 35 percent.

At the beginning of October, the shareholders of the Daimler Group 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 that the Stuttgart-based automaker now wants to “fully” concentrate on “building the most desirable cars in the world and taking the lead in electromobility and vehicle software”.

Two times Daimler in the DAX

In March next, Daimler Truck, along with Mercedes-Benz, is likely to move into the leading DAX index of the 40 largest companies on the German stock exchange if the share does not plummet. At today’s stock market debut, Daimler Truck is already a member of the DAX for one day for technical reasons.

Analysts believe that Daimler Truck, as a listed company, will be more closely controlled by the capital market. Until now, the truck and bus business had mostly been overshadowed by the passenger car division.

Daimler truck division is now on the stock exchange

Bianca von der Au, ARD stock exchange studio, December 10th, 2021 12:17 p.m.


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