The trucking company TFI International, which has become continental in scope from its Quebec origins, now wants to list its shares on the New York Stock Exchange.
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This listing is planned as a follow-up to the first issue of shares to US investors that TFI expects to complete in the coming weeks.
This issue is announced for 6 million shares. But it could be as high as 6.9 million shares depending on the placement contract agreed with a group of reputable financial firms on Wall Street, including Morgan Stanley, Bank Of American (BofA) Securities, JP Morgan and Credit. Swiss.
According to TFI’s current listing on the Toronto Stock Exchange, $ 44 per share or C $ 3.6 billion in total value, the value of this first US share issue could rise from 195 to 225. million US dollars, at the current exchange rate of 75 US cents to the Canadian dollar. TFI’s shares will continue to trade on the Toronto Stock Exchange after listing on the New York Stock Exchange.
Meanwhile, in its 2019 year-end quarterly results, also released on Monday after the Toronto trading session ended, TFI reported a slight decline in fourth-quarter revenues and net income, as its annual results continued to improve compared to the previous year.
In the fourth quarter, TFI recorded total revenues of CA 1.3 billion, down 1.3% year-on-year, while its revenue before fuel surcharge reached 1.16 billion, also down slightly by 0. 3% over one year.
Net income (for continuing operations) for the fourth quarter reached 76.5 million, down 0.2% year on year.
As for the results for its full fiscal year 2019, ended December 31, TFI reports total revenues of 5.17 billion, up 1% year-on-year, and 4.6 billion (+ 2.3%) excluding the fuel overload.
As a result, TFI’s full-year 2019 net income (for continuing operations) rebounded 11% to $ 324.5 million, the equivalent of $ 3.80 per share (diluted) from $ 3.22 one year earlier.
In the opinion of its Chairman of the Board and Chief Executive Officer, Alain Bédard, “TFI had a record year in 2019, a trend which continued throughout the fourth quarter and during this period which proved difficult for the entire transport sector. ”
> View the TFI International stock profile
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