Frac Tech International, owned in part by Chesapeake Energy Corp., is planning to raise about $1.15 billion through an initial public offering (IPO) of its common stock Reuters reports. The oilfield company intends to list its shares on the New York Stock Exchange.
The company appointed Bank of America Merrill Lynch, Goldman Sachs Group, Citigroup and Credit Suisse as underwriters for the offering. Frac Tech provides high-pressure hydraulic fracturing services to exploration and production companies.
Click here for the story from Reuters.
Click here for additional coverage from Upstream Online.