Home / Business and Economy / Convenience King Yesway Raises $280M IPO
Convenience King Yesway Raises $280M IPO
22 Apr
Summary
- Yesway raised $280 million in its U.S. initial public offering.
- The company sold 14 million shares at $20 apiece, valuing it at $1.21 billion.
- Yesway operates over 400 convenience stores across nine Midwestern and Southwestern states.
Convenience store operator Yesway announced on Tuesday that it had successfully raised $280 million through its initial public offering in the United States. The Fort Worth, Texas-based company priced its offering at $20 per share, selling 14 million shares and securing a total valuation of $1.21 billion.
This significant financial milestone comes at a time when the U.S. IPO market for consumer companies is showing signs of resurgence. Yesway had been planning this public debut since 2021, initially pausing its plans in late 2022 due to economic uncertainties.
Founded in 2015, Yesway has rapidly expanded to become a prominent convenience store chain. The company currently manages over 400 stores distributed across nine states, primarily located in the Midwest and Southwest regions of the U.S.
Key financial institutions, including Morgan Stanley, J.P. Morgan, and Goldman Sachs, served as active bookrunning managers for the offering. Yesway's shares are scheduled to commence trading on the Nasdaq under the ticker symbol "YSWY" starting Wednesday.
