Convenience store owner Yesway raises $280 million in US IPO

April 21 (Reuters) - Convenience store ‌owner Yesway ​said ​on Tuesday it had raised $280 million in its U.S. initial public offering.

The Fort Worth, Texas-based ‌company sold 14 million shares in its offering ⁠at $20 apiece, at the lower end of its marketed range of $20 to $23 ‌per share. The IPO ‌values Yesway at $1.21 billion.

The offering comes as the U.S. IPO market for consumer listings shows signs of recovery. ​Deal activity slowed sharply in 2025 after punishing tariffs on imports to the U.S. had sidelined activity ⁠in the industry.

A flurry of companies have also accelerated their plans to go ​public ahead of Elon Musk's SpaceX, aiming to avoid a direct clash with what is ​expected to be one of the ‌most closely watched listings in recent years.

Yesway had been working toward an IPO since ⁠2021, but put those plans on hold in late 2022 as economic uncertainty weighed heavily on new listings

Founded in 2015 ⁠by Brookwood Financial Partners, a Boston-based real estate-focused private equity firm, Yesway ​has emerged as one of the fastest-growing convenience store operators in the United States.

Yesway runs more than 400 convenience stores spanning ‌nine states across the Midwest and Southwest.

Morgan Stanley, J.P. Morgan, and Goldman Sachs acted ‌as active bookrunning managers for the offering. Yesway shares will ⁠start trading on the ‌Nasdaq under the symbol "YSWY" ​on Wednesday.

(Reporting by Atharva Singh and Ananya Palyekar in Bengaluru; Editing by Vijay Kishore and Sherry ‌Jacob-Phillips)

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