Forum Energy Seeks NYSE Listing
24 October 2011
Forum Energy Technologies Inc, which provides products and services for oil and gas companies, registered documents Friday for an initial public offering of its common stock, which it plans to list on the New York Stock Exchange.
The Houston company hopes to raise $345 million with the offering.
Forum said in a filing with the U.S. Securities and Exchange Commission that it expects to use the ticker symbol "FET."
The company said it earned $23.9 million on $747.3 million in sales last year.
Forum provides equipment and services for oil and gas operators. The company is involved in new drilling rigs, subsea work and other areas.
The company said it should benefit from trends such as increasing complexity of well construction and higher investment in subsea equipment and services.