12:47 PM EDT, 07/18/2024 (MT Newswires) -- TWFG (TWFG) shares rose sharply in their trading debut on Nasdaq Thursday after the company priced its initial public offering of 11 million class A shares at $17 apiece to raise about $187 million.

The stock was up about 28% in recent trading after opening at $22.

The insurance distribution platform company has granted its underwriters, including JPMorgan and Morgan Stanley, a 30-day option to buy up to an additional about 1.65 million shares. The offering is expected to close Friday.

Price: 21.70, Change: +4.70, Percent Change: +27.65