TWFG Insurance shares surged 30% on Nasdaq debut. Priced IPO at $17 per share, closed at $22.10. Texas-based insurance broker expected $170M proceeds from IPO. IPO market in the U.S. heated up in first half of 2024.
TWFG Insurance Inc. indicated to open at $21.50 in trading debut, 26% above IPO price. Investor interest shown in stock above proposed price range of $14 to $16. IPO market showing recovery in 2024, with 70 deals priced, up 30% from last year.
TWFG IPO priced at $17 above range, ticker TWFG on Nasdaq. CEO Bunch III controls 94.4% voting power, Class A shares publicly traded. Proceeds for debt repayment, acquisitions, and general corporate purposes. TWFG offers insurance distribution platform and services, pro forma net income down. 70 deals priced in 2024 IPO market, Lineage Inc. sets terms for biggest IPO.