By David Sachs

Traton shares jumped Thursday after parent company Volkswagen said it is prepared to sell shares and free up more stock for investors.

At 0906 GMT, shares in the German truck-and-bus maker were up 4.8% at EUR32.50 after rising as high as EUR32.55.

Volkswagen Chief Executive Oliver Blume said Wednesday that the company is prepared to increase the number of Traton shares available to traders, acknowledging that the 10.28% free float has hindered investors. The move would make Traton stock a better prospect for investors and increase the company's chances of making the MDAX index, Blume said, speaking at Volkswagen's annual general meeting.

Volkswagen, which owns 89.72% of shares in the commercial vehicle maker, previously said its medium-term goal was to own slightly more than 75% of shares. Traton stock has soared 52% since the year began.

Traton, which went public in 2019, includes the MAN, Scania, Navistar, and Volkswagen Truck & Bus brands.

Write to David Sachs at

(END) Dow Jones Newswires

05-30-24 0527ET