The high-end tire maker Pirelli saw a difficult comeback to the stock market on Wednesday, but its CEO told CNBC that it's too early to fully assess the reaction from investors.
Speaking to CNBC after Pirelli's market debut, CEO Marco Tronchetti Provera promised to deliver margin growth of 9 percent until 2020.
"I think the market needs to be seen in the next weeks and months. For sure we're going to deliver good results," he said.
The stock started trading below its issue price of 6.50 euros ($7.54) per share on Wednesday morning. This isn't the first time the firm known as the "Prada of tires" has been listed. The stock was de-listed in 2015 after the Chinese firm ChemChina bought a majority holding in the company.