Flowco (FLOC) shares debuted on the New York Stock Exchange Thursday with an opening price of $29.02, above the initial public offering price of $24.
Shares were recently trading at $28.81 apiece, up 20% relative to the IPO price.
The IPO consisted of 17.8 million Class A shares and the company granted underwriters an option to buy up to an additional 2.7 million shares.
The provider of oilfield services previously said it would use the net proceeds to redeem equity interests from some non-affiliate holders and to repay debt.
Price: 28.81, Change: +4.81, Percent Change: +20.04
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.