The truck and bus manufacturer Daimler Truck has made its stock market debut.
It was a historic day for the company, said CEO Martin Daum on Friday in Frankfurt.
The truck and bus business of Daimler is independent and listed for the first time in 125 years.
Daimler Truck with more than 100,000 employees was separated from the Daimler Group at the beginning of the month.
Mercedes trucks and cars are therefore on separate routes.
The first determined price of the shares was 28 euros. This brings the spin-off to a market capitalization of just under 24 billion euros. The Daimler AG share price was EUR 73.20, 15 percent below the Xetra closing price on Thursday. Shareholders with Daimler papers also got one Daimler truck share booked in their depot. Despite the price loss, they had made an arithmetical € 87.20 in their depot and thus made a profit. After the start, the price of the Daimler truck share rose to as much as 29.80 euros.
Daimler CEO Ola Källenius said the split should “release the full potential of both companies and create decisive added value for all sides”.
He had already announced that he would profile Mercedes-Benz as a luxury brand in automobiles.
"We are fully focused on building the most desirable cars in the world and taking the lead in electromobility and vehicle software," he said, according to his company in Frankfurt.