A Fort Worth-based retailer saw its stock rise on its first day of public trading.
Newly public company Yesway, a convenience store chain, saw its stock rise about 13% to $22.59 on Wednesday around 11:30 a.m. The company said the shares were priced at $20, which is at the low end of its earlier estimate of $20 to $23, according to a regulatory filing.
It’s trading on the Nasdaq Global Select Market under the ticker symbol “YSWY.”
“Today marks a historic milestone for Yesway and our team members, customers and communities across the country,” said CEO Thomas Trkla, in a statement. “As a public company, we see significant opportunities to further expand our footprint and store base as we continue executing on our long-term growth strategy.”
Yesway is the latest addition of public companies in the Dallas-Fort Worth area a push for relocations and the ongoing interest with initial public offerings. In February, Public Storage, which trades on the New York Stock Exchange, filed paperwork to move its headquarters from Southern California to Frisco.
The company raised $280 million in the initial public offering, according to a statement.
The company, started around 2015, has built a chain with nearly 450 stores with its namesake and Allsup’s in states that include Texas, Kansas, South Dakota and Missouri. Allsup’s was acquired around 2019 and the deep fried burritos — and other items — that have made it “legendary.”