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Schneider National goes public, will others follow?

 Schneider National's initial public offering has netted the company $550 million.
Schneider National’s initial public offering has netted the company $550 million.

Transportation provider to invest over $100M of proceeds in intermodal chassis

For the first time since 2010, one of the nation’s leading transportation providers has gone public. Shares of Schneider National began trading on the New York Stock Exchange floor on Thursday, April 6.

Introduced at $19 per share in an Initial Public Offering, which is where it also closed the day after trading slightly higher, the sale is expected to be used to pay down debt and make an investment in intermodal, Chris Lofgren, president & CEO, told Bloomberg.

“We run on the railroads for a big part of our business and we’re going to buy chassis that move those boxes, so $110 million [is the] investment we’re going to make there,” Lofgren said.

For the first time since 2010, one of the nation’s leading transportation providers has gone public. Shares of Schneider National began trading on the New York Stock Exchange floor on Thursday, April 6.


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Brian Straight

Brian Straight covers general transportation news and leads the editorial team as Managing Editor. A journalism graduate of the University of Rhode Island, he has covered everything from a presidential election, to professional sports and Little League baseball, and for more than 10 years has covered trucking and logistics. Before joining FreightWaves, he was previously responsible for the editorial quality and production of Fleet Owner magazine and fleetowner.com. Brian lives in Connecticut with his wife and two kids and spends his time coaching his son’s baseball team, golfing with his daughter, and pursuing his never-ending quest to become a professional bowler.
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