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Rail News: Intermodal

Schneider launches IPO

Schneider launched its IPO today.
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Schneider National Inc. announced today the launch of an initial public offering (IPO) of 28.9 million shares of Class B common stock at a price range of $18 to $20.

The Green Bay, Wis.-based trucking and intermodal firm is issuing and selling up to 16.8 million shares and the selling shareholders are selling up to 12.1 million shares, the company announced in a press release.

Schneider's listing symbol on the New York Stock Exchange will be SNDR. The company announced in October 2016 that it planned to pursue an IPO.

Schneider plans to raise $550 million through the IPO, according to today's Renaissance Capital report.


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