Flowco Holdings, an oilfield services provider, announced its intention to go public in the United States, seeking a valuation of up to $2 billion. This move aims to capitalize on the resurgence of the capital market observed in the previous year.
The company plans to offer 17.8 million shares priced between $21 and $23 each. At the high end of this range, the IPO could generate as much as $409.4 million. This IPO comes as the U.S. IPO market experienced a significant rebound in the preceding year, following a prolonged period of subdued activity. The resurgence was driven by improved investor confidence and near-record highs in equity markets, encouraging companies to pursue public listings once again.
Market analysts anticipate a continued increase in U.S. IPO activity in 2025. This positive outlook is fueled by a strong equities market and expectations of favorable business policies under the incoming Trump administration.
Flowco, headquartered in Houston, Texas, specializes in providing services designed to enhance oil and gas extraction rates from wells. These services are critical for optimizing production and efficiency in the oil and gas industry. By improving extraction rates, Flowco helps its clients maximize their output and profitability. The company’s expertise lies in applying advanced technologies and techniques to optimize well performance.
The company’s stock will be listed on the New York Stock Exchange under the ticker symbol “FLOC.” This listing will provide investors with an opportunity to participate in the growth of Flowco and the broader oilfield services sector. The selection of the New York Stock Exchange reflects Flowco’s ambition to attract a wide range of institutional and individual investors.
J.P. Morgan, Jefferies, and Piper Sandler are the lead underwriters for this offering. Their involvement underscores the significance of this IPO and the confidence these financial institutions have in Flowco’s prospects. The selection of these prominent underwriters signals a strong commitment to ensuring a successful offering. They will play a crucial role in marketing the shares to potential investors and managing the overall IPO process.
