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Oil services provider Flowco seeks up to $2 billion valuation in US IPO

2025.01.07 07:36

(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.

© Reuters. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 10, 2024.  REUTERS/Brendan McDermid/File Photo

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.



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