Reuters: Regulatory News: UPDATE 1-Forum Energy sees IPO priced at $18-$20/shr

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UPDATE 1-Forum Energy sees IPO priced at $18-$20/shr Mar 29th 2012, 11:11 March 29 | Thu Mar 29, 2012 7:11am EDT March 29 (Reuters) - Oilfield products company Forum Energy Technologies Inc said it expects its initial public offering of 15.8 million shares to be priced between $18 to $20 apiece. In its latest filing with U.S. regulators, the company said it plans to sell 13.2 million shares, while selling stockholders will sell the remaining the units being offered. In September last year, Forum Energy had filed with the U.S. Securities and Exchange Commission to raise up to $300 million through its initial share offering. A month later, it increased its IPO size to $345 million. The company, which is backed by private equity firm SCF Partners, expects to receive net proceeds of about $231.8 million and plans to use it to repay debt. Forum Energy plans to list its shares on the New York Stock Exchange under the symbol 'FET.' J.P. Morgan Securities, Merrill Lynch, Credit Suisse, Citigroup and Deutsche Bank are some of the underwriters for the offering.

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