Whoosh! Flowco Holdings Inc. (FLOC) shares shot up to $29.00 – opening up $5.00 or 20.8 percent above their $24.00 IPO price – at about 1:02 p.m. EST today – Thursday, Jan. 16, 2025. The Houston-based oil and gas wellhead services operator’s IPO was priced $1.00 above the top of its $21.00-to-$23.00 range – on 17.8 million shares, the number in the prospectus – to raise $427.2 million on Wednesday night. At pricing, Flowco’s market cap was about $2.1 billion.
Flowco’s initial public offering is the first big IPO of 2025. The performance of the first large-cap IPO of the year is often taken as a sign of things to come.
At the opening trade of $29.00, Flowco’s market cap surged to about $2.6 billion from about $2.1 billion – its level when the IPO was priced.
J.P. Morgan, Jefferies, Piper Sandler, Evercore ISI, BMO Capital Markets and Pickering Energy Partners acted as the joint book-runners.
In mid-afternoon trading, Flowco’s stock hit its intraday high so far of $29.49 – up $5.49 for a 22.88 percent gain from its IPO price – on daily NYSE volume of about 3.5 million shares so far. Flowco’s stock closed at $29.70 – up $5.70 from its $24.00 IPO price – on first-day volume of about 6.3 million shares.
Flowco Holdings, based in Houston, provides proprietary well production solutions and natural gas technologies to its clients, who include some of the largest U.S. oil and gas producers. Flowco is profitable and its revenue is growing.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.