IPO News Archive
Swift Transportation prices IPO at $11; second largest U.S. IPO of 2010
Swift Transportation Company, the largest truckload carrier in North America with 12,300 company-owned tractors, raised $807 million by offering 73.3 million shares at $11, well below its original range of $13 to $15. The company originally planned to sell 67.3 million shares. The Phoenix, AZ based company, which had been publicly traded until it was taken private in a buyout led by its current CEO Jerry Moyes in 2007, became the second largest U.S. offering in 2010 after General Motors record-setting $15.8 billion IPO on November 17. Swift Transportation will list on the NYSE under the symbol SWFT. Morgan Stanley, BofA Merrill Lynch, and Wells Fargo Securities led a team of six bookrunners on the deal.