OMS Energy Technologies, Inc. (OMSE) to Raise $50 Million in IPO

OMS Energy Technologies, Inc. (OMSE) plans to raise $50 million in an IPO on the week of March 10th, IPO Scoop reports. The company will issue 5,600,000 shares at $8.00-$10.00 per share.

In the last twelve months, OMS Energy Technologies, Inc. generated $181.5 million in revenue and $800,000 in net income. The company has a market cap of $398.7 million.

Roth Capital Partners served as the underwriter for the IPO.

OMS Energy Technologies, Inc. provided the following description of their company for its IPO: “(Incorporated in the Cayman Islands) We are a growth-oriented manufacturer of surface wellhead systems, or SWS, and oil country tubular goods, or OCTG products used in the oil and gas industry. These products are primarily used for both onshore and offshore oil exploration and production, or E&P activities in the Asia Pacific and the Middle Eastern and North Africa (MENA) Regions. Our customers often operate in geographic locations where the operating environment requires wellheads, casing and tubing materials capable of meeting exact standards for temperature, pressure, corrosion, torque resistance and abrasion. Our products have been designed, manufactured and certified with the American Petroleum Standards (API) and International Organization of Standardization (ISO). Through our comprehensive and technologically advanced portfolio of SWS and OCTG, we are able to serve as a single-source supplier for our customers and respond to their demand for products. Our operations benefit from our broad, strategically positioned geographic footprint, which supports our ability to supply our (i) Specialty Connectors and Pipes and (ii) Surface wellhead and Christmas tree allowing us to serve our customers operating in the Asia Pacific and MENA Regions. We have finishing facilities in close proximity to some of our top end-users’ E&P operations, for example, we have facilities in Saudi Arabia where our largest client, Saudi ARAMCO Oil is located, which allows us to provide our customers with customized technical solutions and to synchronize our production and logistics with evolving demands.  We primarily conduct our business through our subsidiaries (i) OMS (Singapore), (ii) OMS (Saudi Arabia), (iii) OMS (Indonesia), (iv) OMS (Thailand), (v) OMS (Malaysia Holding), (vi) OMS (Malaysia OpCo) and (vii) OMS (Brunei), operating in Singapore, Saudi Arabia, Indonesia, Thailand, Malaysia and Brunei, respectively. Furthermore, through our localization efforts in collaboration with the various governments, we operate manufacturing facilities and warehouses across these six jurisdictions that we operate in. For further information, please refer to the section entitled “Business — Real Property” in the prospectus. Note: Net income and revenue are for the year that ended March 31, 2024. (Note: OMS Energy Technologies, Inc. is offering 5.56 million ordinary shares (5,555,556  ordinary shares) at a price range of $8.00 to $10.00 to raise $50.0 million, according to its S-1/A filings.) “.

OMS Energy Technologies, Inc. was founded in 1972 and has 632 employees. The company is located at 10 Gul Circle Singapore 629566 +65 6861 2677 and can be reached via phone at +65 6861 2677 or on the web at http://www.omsos.com/.