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Schneider goes for IPO

April 5 - Green Bay, USA-based trucking company, Schneider National has launched an initial public offering (IPO) of 28,947,000 shares of its Class B common stock, at an anticipated IPO price between USD18 and USD20 per share.

Schneider is also issuing and selling up to 16,842,000 shares and the selling shareholders named in the registration statement are selling up to 12,105,000 shares.

The company would raise around USD668 million if the target share price is reached, delivering a shot of capital Schneider can use for acquisitions and to fuel the expansion of services for shippers, as well as pay down debt.

Schneider's Class B common stock has been approved for listing on the New York Stock Exchange under the symbol 'SNDR', subject to official notice of issuance.

Schneider expects to grant the underwriters an option to purchase up to 4,342,000 additional shares of Class B common stock at the initial offering price, less underwriting discounts and commissions, to cover overallotments, if any.

Morgan Stanley, UBS Investment Bank and BofA Merrill Lynch are acting as active joint bookrunning managers of the proposed offering; Citigroup, Credit Suisse, J.P. Morgan and Wells Fargo Securities are acting as passive joint book­running managers and Baird and Wolfe Capital Markets and Advisory are acting as co-­managers. The proposed offering of these securities will be made only by means of a prospectus.

With more than 200 working flat bed tractor-trailer combinations, Schneider says it has the equipment to handle complex over dimensional moves.


www.schneider.com

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