2 months ago
Key Takeaways
- TWFG Insurance shares roseate astir 30% successful nan company's first time trading connected nan Nasdaq.
- The institution priced its first nationalist offering astatine $17. They closed astatine $22.10.
- TWFG is simply a Texas-based security broker. Its IPO comes arsenic nan IPO marketplace market heated up successful nan first half.
TWFG Insurance (TWFG) shares jumped immoderate 30% from their IPO value successful nan company's first time trading connected nan Nasdaq Global Select Market.
The institution priced its IPO astatine $17 per share, higher than nan $14 to $16 it antecedently expected, pinch shares closing astatine $22.10 connected Thursday. They opened early Thursday day astatine $22.
Texas-based TWFG, besides known arsenic nan Woodlands Financial Group, is an insurance broker. It expected proceeds of astir $170 cardinal from its IPO.
The company's IPO comes aft nan IPO marketplace successful nan U.S. heated up successful nan first half of 2024.
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