WEIGF - AFGlobal ProposesTerms For $118 Million IPO
Quick Take
AFG Holdings (AFGL) intends to raise $118 million in an IPO from the sale of its common stock and that of selling shareholders, according to an amended registration statement.
The company is an original equipment manufacturer [OEM] for the oil & gas and select industrial markets worldwide.
AFGL is executing on its turnaround, has posted sharply improved financial results and will continue to benefit from an improved oil pricing and drilling environment.
An unknown that could dampen its prospects is increased production by OPEC + Russia over the coming 12