(Finance) – Flowcoa provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry, announced ainitial public offering (IPO) of 17,800,000 shares to list in the United States.
The price of the IPO is currently expected between $21 and $23 per share, for a collection maximum of approximately 409 million dollars and a capitalization of 2 billion dollars.
The underwriters will have aoption 30 days to purchase up to 2,670,000 additional shares from Flowco.
Flowco has applied to list its shares on the New York Stock Exchange (NYSE) with the “FLOC” symbol.
Flowco intends to use the net proceeds to repay the debtredeem certain equity interests from certain unaffiliated holders and for general corporate purposes.
JP Morgan, Jefferies, Piper Sandler and Evercore ISI act as lead bookrunning manager for the offer.