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:max_bytes(150000):strip_icc()/GettyImages-2107846207-0bc6f724abe540489d87e3bf82cf6440.jpg "TWFG Insurance Shares Jump on IPO Day")
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Key Takeaways
- TWFG 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.