OMS Energy Technologies, a Singapore-based manufacturer of surface wellhead systems and oil country tubular goods, raised $33 million by offering 3.7 million shares at $9, within the range of $8 to $10. The company offered 1.9 million fewer shares than anticipated.
OMS Energy Technologies is a growth-oriented manufacturer of surface wellhead systems (SWS) and oil country tubular goods (OCTG) used in the oil and gas industry, primarily for onshore and offshore E&P activities in the Asia Pacific and the Middle Eastern and North Africa Regions. The company has a presence in six jurisdictions, with 11 manufacturing facilities located in oil and gas service hubs. It also has finishing facilities in close proximity to some of its top end-users' E&P operations, including in Saudi Arabia where its largest client Saudi ARAMCO Oil is located.
OMS Energy Technologies plans to list on the Nasdaq under the symbol OMSE. Roth Capital acted as sole bookrunner on the deal.
