Oil services provider Flowco seeks up to $2 billion valuation in US IPO
8:30 am Tuesday, January 07th, 2025
(Reuters) -Oilfield services provider Flowco Holdings on Tuesday said it is seeking a valuation of up to $2 billion in its initial public offering in the United States, aiming to leverage last year’s capital market rebound.
The company said it would sell 17.8 million shares at a price range of $21 to $23 per share, potentially fetching up to $409.4 million if priced at the upper limit.
The U.S. IPO market experienced a revival in the previous year after nearly three years of avoiding large deals, as improved investor sentiment and near-record-high equity markets fuel renewed activity.
Investors expect to see a continued uptick in U.S. IPO activity in 2025, bolstered by a bullish equities market and expectations of business-friendly policies from the incoming Trump administration.
The Houston, Texas-based firm specializes in services that help improve the rate of oil and gas extraction from wells.
Flowco will list its shares on the New York Stock Exchange under the symbol “FLOC”.
J.P. Morgan, Jefferies and Piper Sandler are the lead underwriters of the offering.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Vijay Kishore)
