Swift Begins NYSE Trading at $11 a Share
Swift Transportation Co.’s stock began trading Thursday at $11 a share, after the company raised about $810 3 million in its initial public offering, Bloomberg reported.
Swift issued 73.3 million shares, as the company returned to public stock markets for the first time since 2007. Its shares are traded on the New York Stock Exchange under the ticker SWFT.
Swift became a privately held company that year when founder Jerry Moyes led a $2.37 billion leveraged buyout.
The carrier said last month it was attempting to raise just over $1 billion in the IPO, which could be the largest ever for a truckload fleet. It had originally targeted a price of $13 to $15 per share.
Swift is ranked No. 10 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
