IPO Preview: Forum Energy Technologies
By IPOdesktop: Based in Houston, Texas, Forum Energy Technologies (proposed FET) scheduled a $300 million IPO with a market capitalization of $1.6 billion at a price range mid-point of $19 for Thursday, April 12, 2012. S-1Eight IPOs are scheduled for this week. The full IPO calendar is here.Manager, Joint Managers: J.P. Morgan; BofA; Credit Suisse; Citigroup; Deutsche. Co Managers: Simmons; Tudor Pickering; Capital One Southcoast; Dahlman Rose; FBR; Howard Weil; Johnson Rice.SUMMARY Cobbled together by private funds, FET is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry.FET's growth has come from acquisitions rather than internal, organic growth.Compared to Cameron International (CAM) and FMC Technologies (FTI), both mentioned as competitors in FET's SEC filing, FET is priced at a discount in terms of price-to-earnings, price-to-sales and price-to-book value.BUSINESS FET is a global oilfield productsComplete Story »
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