October 7, 2024

TWFG Insurance Shares Jump on IPO Day

business people have a meeting about company statistics
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TWFG Insurance Shares Jump on IPO Day

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.

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