Daimler Truck, after its spin-off from Daimler AG, edged higher on its market debut in Frankfurt on Friday.
Daimler Truck shares were trading at 29.03 euros, above their debut price of 28 euros.
Daimler shares were down 17%, a technical side-effect of the spin-off.
Daimler AG, soon to be renamed Mercedes-Benz AG, has kept 35% of Daimler Truck shares, while 65% were spun off on Friday.
Shareholders in Daimler received one share in Daimler Truck for every two Daimler shares they owned.
Daimler Truck is now the world’s largest commercial vehicle maker by revenue, but its profit margins lag competitors like Traton’s Scania and Volvo Group’s Volvo Trucks.
Its performance is strongest in North America, where it reported an adjusted return on sales so far this year of 10.8%, compared to 7.2% in Asia and just 4.5% in Europe.
