OMS Energy Technologies (OMSE.US) IPO priced at $8-$10/share, raising $50M

Market IntelMonday, Nov 25, 2024 3:20 am ET

1min read

OMS Energy Technologies (OMSE.US), a Singapore-based oil and gas equipment manufacturer, announced its IPO terms on Friday. The company plans to issue 5.6 million shares at a price range of $8 to $10, raising $50 million. At the midpoint of the proposed range, OMS would be valued at $399 million.

OMS Energy Technologies was founded in 1972 and is headquartered in Singapore. The company primarily produces surface wellhead systems (SWS) and oil country tubular goods (OCTG) for onshore and offshore exploration and development activities in the Asia-Pacific, Middle East and North Africa regions.

The company has 11 production facilities located at oil and gas service centers in six jurisdictions. The company also has refining facilities near the exploration and development operations of some top-end users, including Saudi Arabia, where its largest customer Saudi Aramco is located.

Data showed the company's 12-month sales as of March 31, 2024, at $181 million. The company plans to list on the Nasdaq under the ticker OMSE. Ross Capital is the sole bookrunner for the transaction.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.