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TMK IPSCO Files for IPO
01/15/2018 - The North American division of Russian oil country tubular goods maker PAO TMK is moving to become public, filing to register its shares with the U.S. Securities and Exchange Commission.
TMK IPSCO hasn’t yet decided on the number of shares to be offered or the initial price range for the shares. It is, however, proposing to trade on the NYSE under the ticker symbol IPSC.
According to the statement, TMK IPSCO recorded US$730.4 million in revenue through three quarters of 2017, more than double its earnings during the same period in the prior year.
The company said improved stability in oil and gas prices has helped drive an increase in capital spending on exploration and production project, and, in turn, demand for oil country tubular goods.
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