FTS International, which provides hydraulic fracturing services for the oil and gas industry, announced terms for its IPO on Tuesday.
The Fort Worth, TX-based company plans to raise $250 million by offering 15.2 million shares at a price range of $15 to $18. At the midpoint of the proposed range, FTS International would command a market value of $1.8 billion.
FTS International was founded in 2000 and booked $1.2 billion in sales for the 12 months ended September 30, 2017. It plans to list on the NYSE under the symbol FTSI. Credit Suisse, Morgan Stanley, Wells Fargo Securities, Barclays, Citi and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of January 29, 2018.
