Schneider National, the largest privately held trucking company in the U.S. by revenue, announced it intends to pursue an initial public offering (IPO) of common stock in 2017, subject to satisfactory market conditions.
According to the company, the objectives of the planned transaction are to “facilitate continuity of controlling ownership of Schneider by the future generations of the Schneider family, while continuing forward with its long-standing, independent, and professional, corporate governance structure.”
“This transaction will allow the company to continue its commitment to Wisconsin and the community, and to maintain and further investments in its long-term positioning,” Schneider said. “The Schneider family and the board of directors believe the planned transaction is in the best interests of Schneider, its associates, customers, and shareholders.”
A registration statement relating to the common stock to be sold in the initial public offering is expected to be filed with the Securities and Exchange Commission, but has not been filed or become effective. This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities for sale.