Flowco Holdings (FLOC.US) announced plans for an IPO, intending to raise $392 million.

Flowco Holdings, headquartered in Houston, Texas, USA, announced its specific plans for its initial public offering (IPO) on Tuesday. The company plans to raise $392 million by issuing 17.8 million shares at a price range of $21 to $23 per share. Core investors are expected to subscribe to $125 million worth of shares, accounting for 32% of the total trading volume. Based on the midpoint of the issuance range, Flowco Holdings' fully diluted market value will reach $1.9 billion. Flowco Holdings was formed this year by the merger of three companies: Flowco Production Solutions, Estis Compression, and Flogistix. The company describes itself as a leading provider of production optimization, artificial lift, and methane emission reduction solutions for the oil and gas industry. Its products and services are designed to help energy producers maximize the profitability and lifespan of existing oil and gas wells. Flowco Holdings' core products include high-pressure gas lift, conventional gas lift, plunger lift, and vapor recovery units, combined with its proprietary digital systems. These solutions not only optimize production but also effectively slow down the natural decline in oil and gas well productivity over time. Established in 1996, Flowco Holdings generated $425 million in revenue in the 12 months ending September 30, 2024. The company plans to list on the New York Stock Exchange under the ticker symbol FLOC. The underwriters for this IPO include JPMorgan, Jefferies, Piper Sandler, Evercore ISI, BMO Capital Markets, and Pareto Securities. The offering is expected to be priced the week of January 13, 2025.