Oil Services Firm ProFrac Gains Little in Debut After IPO Misses

Oil Services Firm ProFrac Gains Little in Debut After IPO Misses

From bnnbloomberg.ca

Shares of oil services firm ProFrac Holding Corp. gained only 11 cents in their trading debut after its $288 million initial public offering showed the continuing weakness of the US market. ProFrac opened trading Friday at $17.60 a share after selling 16 million shares for $18 each in the IPO. The shares briefly rose as high as 5.3% but closed up 0.6% to $18.11, giving the company a market value of $2.54 billion. The Willow Park, Texas-based company, like contact lens maker Bausch + Lomb Corp. last week, had marketed its shares for $21 to $24. Bausch + Lomb, whose shares also sold for $18 in its IPO, has since fallen ... (full story)

- Older Stories
Week Ahead Economic Preview: US, China retail sales and production data, plus UK inflation and jobs
From cdn.ihsmarkit.com|May 14, 2022
The week ahead finds a busy economic calendar alongside a series of Fed appearances which remain in focus given uncertainties over the pace of monetary policy tightening. Both US ...
ECB policymaker says rates will rise 'very soon'
From leaderpost.com|May 14, 2022|2 comments
The European Central Bank (ECB) will likely decide at its next meeting to end its stimulus program in July, and raise interest rates “very soon” after that, ECB policymaker Pablo ...
Russian operator to suspend electricity supply to Finland
From bbc.com|May 14, 2022|23 comments
Russian energy supplier RAO Nordic says it will suspend deliveries of electricity to Finland from Saturday, citing problems with payments. The company said it had not been paid ...

- Newer Stories
Emirates Airline, stung by soaring fuel prices, posts $1.1 billion dollar loss
From cnbc.com|May 14, 2022
Dubai’s Emirates Airline narrowed its losses to $1.1 billion in the year to March, even as soaring jet fuel costs threaten to overshadow a recovery in travel demand. The world’s ...
Beware a Global Economy with Little Fires Everywhere
From project-syndicate.org|May 14, 2022|2 comments
Big shocks to the global economy, such as Russia’s invasion of Ukraine, understandably capture the most attention. But a new worldwide pattern of “little fires everywhere” may be ...
EU Drafts Plan for Buying Russian Gas Without Breaking Sanctions
From bnnbloomberg.ca|May 14, 2022|4 comments
The European Union is set to offer its gas importers a solution to avoid a breach of sanctions when buying fuel from Russia and still effectively satisfy President Vladimir ...