Market volatility was back this week, and IPOs either dropped out or dropped their valuations. Six companies in five different sectors raised a combined $992 million, along with one SPAC. Four of the six deals priced below the midpoint of the range, and five broke their issue price during early trading. Three companies formally postponed their IPOs and two more pushed back their...read more
This year's four energy IPOs already match 2016's total, making it the most active sector YTD. That trend should continue. Three large hydraulic fracturing companies joined the US IPO pipeline in the past week. The largest, FTS International (FTSI), has an estimated deal size of $1 billion, and ProPetro (PUMP) and...read more
Keane Group, which provides well completion services for the hydraulic fracturing industry, filed on Wednesday with the SEC to raise up to $288 million in an initial public offering. The Houston, TX-based company was founded in 1973 and booked $324 million in pro forma sales for the 12 months ended September 30, 2016. It plans to list on the NYSE under the symbol FRAC. Citi,...read more
Four IPOs raised $816 million this week, led by Extraction Oil & Gas. The company broke a 2-year drought in IPOs from energy E&Ps and popped 15%, while the week's other three IPOs broke issue. Two had double-digit drops, the year's worst debuts outside the biotech sector. The last time one week had three IPOs end their first day negative was October 2015. With 10 IPOs...read more
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US IPO Weekly Recap: Volatility shakes IPO market as 6 deals price and most break issue
Market volatility was back this week, and IPOs either dropped out or dropped their valuations. Six companies in five different sectors raised a combined $992 million, along with one SPAC. Four of the six deals priced below the midpoint of the range, and five broke their issue price during early trading. Three companies formally postponed their IPOs and two more pushed back their...read more
Meet the frackers: 3 oilfield services firms prep US IPOs
This year's four energy IPOs already match 2016's total, making it the most active sector YTD. That trend should continue. Three large hydraulic fracturing companies joined the US IPO pipeline in the past week. The largest, FTS International (FTSI), has an estimated deal size of $1 billion, and ProPetro (PUMP) and...read more
Keen to IPO: Oil services provider Keane Group files for a $288 million IPO
Keane Group, which provides well completion services for the hydraulic fracturing industry, filed on Wednesday with the SEC to raise up to $288 million in an initial public offering. The Houston, TX-based company was founded in 1973 and booked $324 million in pro forma sales for the 12 months ended September 30, 2016. It plans to list on the NYSE under the symbol FRAC. Citi,...read more
US IPO Weekly Recap: First oil & gas producer in two years pops; other 3 IPOs break
Four IPOs raised $816 million this week, led by Extraction Oil & Gas. The company broke a 2-year drought in IPOs from energy E&Ps and popped 15%, while the week's other three IPOs broke issue. Two had double-digit drops, the year's worst debuts outside the biotech sector. The last time one week had three IPOs end their first day negative was October 2015. With 10 IPOs...read more