Company Overview
When diving into the world of energy technology, one name that stands out is OMS Energy Technologies. Known for its innovative solutions in the oil and gas sector, OMS Energy Technologies has made a significant mark in the industry. Let’s explore the company in detail, starting with its IPO journey.
IPO Details
OMS Energy Technologies, a Singapore-based manufacturer of oil and gas equipment, recently announced its IPO terms. The company plans to issue 5.6 million shares, with a price range of $8 to $10 per share, aiming to raise $50 million. At the midpoint of the proposed range, OMS’s market value would stand at $399 million.
Company History
Established in 1972, OMS Energy Technologies has a rich history in the oil and gas industry. Headquartered in Singapore, the company specializes in producing 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.
Global Presence
OMS Energy Technologies boasts a global presence with production facilities in six jurisdictions, totaling 11 locations at oil service centers. Additionally, the company has precision finishing facilities located near key terminal users’ exploration and development operations, including its largest client, Saudi Aramco, in Saudi Arabia.
Financial Performance
As of March 31, 2024, OMS Energy Technologies reported sales of $181 million for the 12 months ending March 31, 2024. The company is set to list on the NASDAQ, with the stock code OMS.
Market Outlook
The oil and gas industry is a dynamic sector, and OMS Energy Technologies is well-positioned to capitalize on the growing demand for its products and services. With a strong focus on innovation and a global footprint, the company is well-equipped to face the challenges and opportunities ahead.
Table: OMS Energy Technologies IPO Details
| Parameter | Value |
|---|---|
| Number of Shares to be Issued | 5.6 million |
| Price Range | $8 to $10 per share |
| Targeted Funds | $50 million |
| Market Value at Midpoint | $399 million |
| Stock Code | OMSE |
Conclusion
OMS Energy Technologies has come a long way since its inception in 1972. With a solid track record in the oil and gas industry, the company is poised for growth in the years to come. As it prepares for its IPO, investors are keeping a close eye on this innovative energy technology company.
