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NEWTON, Mass. -- The Securities and Exchange Commission (SEC) approved and declared effective TravelCenters of America, LLC's registration to split from its parent company, Hospitality Properties Trust, and trade its shares on the American Stock Exchange.
The application to list its shares on the American Stock Exchange was approved subject to the notice that shares have been issued, the company said in a written statement earlier this week. Trading began yesterday under the ticket symbol TA.WI. The American Stock Exchange's Web site listed its opening price yesterday at $35.25.
"We are very pleased to welcome TravelCenters of America LLC to the American Stock Exchange," said John McGonegal, senior vice president of the Amex Equities Group. "In listing at the Amex, we will be able to offer TravelCenters of America the value-added services that a growing company needs to succeed in today's competitive market."
The specialist for TravelCenters of America's stock is Weiskopf Silver & Co.
TravelCenters of America was bought by Hospitality Properties Trust in September for $1.9 billion. CSNews Online reported at that time that business would continue as usual for the chain's 162 locations. The venture with TravelCenters of America was Hospitality Properties' first venture in the convenience industry.
The company has filed a prospectus and registration statement with the SEC. The prospectus is available at the SEC Web site, www.sec.gov, or the parent company's Web site, www.hptreit.com.