June 28, 2019 / 7:42 AM / 4 months ago

VW's Traton shares dip after stock market debut

FRANKFURT, June 28 (Reuters) - Shares in Volkswagen’s truck unit Traton opened at 27 euros ($30.75) on Friday before trading slightly lower at 26.47 euros a share on their first day of trading following their stock market listing in Frankfurt an Stockholm.

Volkswagen floated 11.5 percent of Traton’s shares at 27 euros a share, in a scaled back initial public offering which had sought to list a stake of up to 25% of the shares.

Proceeds from the offering will flow to parent Volkswagen which aims to use the funding to invest in mass producing electric cars. ($1 = 0.8780 euros) (Reporting by Edward Taylor Editing by Tassilo Hummel)

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