IPSCO Tubulars has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). The company intends to sell its 23.26 million shares in the range of $20 to $23 per share, with an overallotment option for an additional 3.49 million shares. At the maximum price, the entire offering is valued up to $615.12 million. The company intends to list its shares on the New York Stock Exchange under the symbol IPSC.
The underwriters for the offering are Merrill Lynch, Morgan Stanley, JPMorgan, UBS Investment Bank, Citigroup, Credit Suisse, Barclays and Evercore ISI.
This is a leading, growth-oriented producer and supplier of seamless and welded oil country tubular goods (OCTG), with a proprietary suite of premium and semi-premium connections. As a vertically integrated producer of seamless pipe and an efficient operator of steel pipe production, heat treating and threading facilities, IPSCO is able to efficiently meet customer demand and exercise control over its cost structure.
The primary end market for its products is onshore exploration and production (E&P) operators in the United States and Canada. These end-users operate in geographic locations with environments that require casing and tubing materials capable of meeting exacting standards for temperature, pressure, corrosion, torque resistance and abrasion. Through its comprehensive and technologically advanced portfolio of OCTG, the company is able to serve as a single-source supplier for E&P end-users and respond to a rapidly increasing per-well demand for OCTG.
OCTG are available with the end-user’s choice of 26 market-leading proprietary connections as well as multiple connections that meet or exceed American Petroleum Institute certified (API) standards. IPSCO also produces line pipe for the transport of crude oil, natural gas and natural gas liquids from producing fields to processing plants and refineries and for the transport of refined products, as well as standard, structural and industrial pipe for the agricultural, commercial construction and automotive industries.
The company intends to use the net proceeds from the offering to repay its debt, as well as for working capital and general corporate purposes.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
