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Canadian trucking company TFI International files for a $199 million US IPO

February 10, 2020
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TFI International, a transportation and logistics company in North America, filed on Monday with the SEC for a US IPO.

The company plans to raise $199 million by offering 6 million shares at US $33.15, the as-converted February 7 close of its shares on the Toronto Stock Exchange, where it is listed under the symbol TFII. Its proposed post-offering market cap is about $2.9 billion.

The Quebec, Canada-based company was founded in 1985 and booked $3.9 billion in sales for the 12 months ended December 31, 2019. It plans to list on the NYSE under the symbol TFII. Morgan Stanley, BofA Securities, J.P. Morgan, Credit Suisse, RBC Capital Markets and UBS Investment Bank are the joint bookrunners on the deal. The company is expected to price its US offering this week.