VLOWY - IPSCO Tubulars Prepares For $500 Million U.S. IPO
Quick Take
IPSCO Tubulars (IPSC) and selling shareholder parent company PAO TMK intend to sell 23.255 million shares of common stock at a midpoint price of $21.50 per share for gross proceeds of $500 million from a U.S. IPO, according to an S-1/A registration statement.
The firm is an industry leader in creating and delivering innovative tubular products. Part of OAO TMK (one of the world’s largest pipe producers), IPSCO has facilities located across the U.S. and Canada producing welded and seamless pipe and connections for the oil and gas industry and