IPO news

(Renaissance Capital)Schneider National, which is leading US trucking company with over 11,000 vehicles, announced terms for its IPO on Friday.

The Green Bay, WI-based company plans to raise $550 million by offering 28.9 million shares (42% insider) at a price range of $18 to $20. At the midpoint of the proposed range, Schneider National would command a fully diluted market value of $3.3 billion and an enterprise value of $3.6 billion. 

Schneider National was founded in 1935 and booked $4.0 billion in sales for the 12 months ended December 31, 2016. It plans to list on the NYSE under the symbol SNDR. Morgan Stanley, UBS Investment Bank, BofA Merrill Lynch, Citi, Credit Suisse, J.P. Morgan and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of April 3, 2017.

Also Read:

Ireland finance ministry appoints bookrunners for AIB IPO

Share on Google Plus

About Jessica Hornberger

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.