STEP Energy Services TSE IPO

Overview:

• STEP Energy Services has undertaken an IPO on the Toronto Stock Exchange (TSE).
• The company offered 10 million common shares at $10 per common share raising $100 million. 
• CIBC Capital Markets, Raymond James, BMO Capital Markets, Peters & Co, RBC Capital Markets, GMP FirstEnergy, National Bank Financial, Scotiabank and AltaCorp Capital acted as underwriters.
• STEP is an oilfield service company that provides specialised and fully integrated coiled tubing and fracturing solutions. It is backed by private equity firm ARC Financial Corporation.
• The IPO follows closely that of Source Energy Services, the first Canadian energy company IPO since 2014.

Katrin Kostadinova - Data analyst