Canada-based TFI International, which provides trucking and logistics services in North America, raised $200 million by offering 6 million shares at $33.35 (CAD $44.20), slightly below its last close on the TSX of CAD $45.56. The company's market cap at the IPO is $2.9 billion and its enterprise value is $4 billion.
TFI International 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 acted as lead managers on the deal.
