Shares in German brake systems manufacturer Knorr-Bremse held their own in early trading on Friday as choppy global markets took the shine off Germany's second biggest stock market debut this year.
Shares opened at 80.10 euros, a shade above their offer price of 80 euros, and edged up to 80.50 euros by 0744 GMT.
"We are very content. If you work towards an IPO, you don't what happens in this exact moment, it's a snapshot. The substance of our company is a very solid one," Klaus Deller, CEO of Knorr-Bremse told CNBC's Annette Weisbach on Friday.
Knorr-Bremse's debut comes after European shares hit their lowest in more than 21 months and Wall Street extended its slide into a sixth session on Thursday as investors fear an escalating U.S.-China trade war and an economic downturn.