H&E Equipment Offers IPO

February 1, 2006 — According to a recent report in Reuters, the initial public offering (IPO) of H&E Equipment Services, Inc., Baton Rouge, priced at $18 per share on Monday, above a $15 to $17 forecast, according to an underwriter. The 10.9 million share offer is worth $196.2 million.

 

The company intends to use the proceeds of the offer to fund expansion, including the planned $53 million acquisition of privately held Eagle High Reach Equipment. Credit Suisse and UBS Investment Bank are the lead underwriters. H&E aims to list its shares on the NASDAQ under the symbol "HEES."