Flowco Holdings Inc. (FLOC), an oilfield services company, experienced a remarkable debut on the New York Stock Exchange (NYSE) on Thursday, with its stock soaring 20.93% during the trading session. The strong performance was fueled by the company's successful initial public offering (IPO), which garnered significant investor interest and priced above expectations.

Flowco sold 17.8 million shares at $24 per share, raising approximately $427 million in the IPO. The offering price was $1 above the initially marketed range of $21-$23 per share, reflecting the high demand for the company's shares. Prominent investors, including BlackRock and American Century Investment Management, indicated their intention to acquire up to $125 million worth of shares, accounting for around 30% of the deal.

The company plans to utilize the majority of the net proceeds from the IPO to reduce its existing debt obligations under a credit agreement. Flowco's IPO stands out as the first notable U.S. IPO of 2025 and the largest energy listing by deal size since May 2019, according to IPO research firm Renaissance Capital.