Flowco Holdings Shares Soar 24% After IPO Priced Above Range (1)

Flowco Holdings Inc. shares soared nearly 24% in its public market debut after the oil field services company raised $427 million in an initial public offering.

The Houston-based firm’s stock closed at $29.70 per share in New York on Thursday, above the $24 IPO price. Flowco sold 17.8 million shares Wednesday after having marketed them earlier for $21 to $23 each. It’s the first oil field services deal to price above the marketing range since Liberty Energy Inc. in 2018.

The gains give Flowco a market value of more than $2.6 billion after its first trading day, based on the ...