TWFG Insurance Shares Jump Over 30% in Their First Day of Trading
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Yuki Iwamura / Bloomberg via Getty Images Insurance broker TWFG started trading on the Nasdaq Thursday.
Key TakeawaysTWFG Insurance shares rose about 30% in the company's first day trading on the Nasdaq.The company priced its initial public offering at $17. They closed at $22.10.TWFG is a Texas-based insurance broker. Its IPO comes as the IPO market market heated up in the first half.
TWFG Insurance (TWFG) shares jumped some 30% from their IPO price in the company's first day trading on the Nasdaq Global Select Market.The company priced its IPO at $17 per share, higher than the $14 to $16 it previously expected, with shares closing at $22.10 on Thursday. They opened early Thursday afternoon at $22.Texas-based TWFG, also known as the Woodlands Financial Group, is an insurance broker. It expected proceeds of nearly $170 million from its IPO.The company's IPO comes after the IPO market in the U.S. heated up in the first half of 2024. Read the original article on Investopedia.
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