Oil-and-Gas Drilling Equipment Supplier Seeks Public Listing
- HMH Holding files for IPO with the U.S. Securities and Exchange Commission
- Joint venture between Baker Hughes and Akastor
- Supplier of equipment and services to oil-and-gas drilling companies
- Provides drilling-equipment packages and aftermarket services
- Locations in 16 countries, sales in 60 countries
- Revenue increased from $374.1 million to $401.2 million in six months ended June 30, 2024
HMH Holding, a joint venture between Baker Hughes and Akastor, has filed for an initial public offering with the U.S. Securities and Exchange Commission. The company provides equipment packages and aftermarket services to the oil-and-gas drilling industry across 16 countries and delivers sales in 60 countries. In the six months ended June 30, 2024, HMH Holding reported a revenue increase from $374.1 million to $401.2 million. The company has not yet disclosed the expected size or price range for its IPO and plans to list on the Nasdaq Global Select Market under the symbol HMHW with J.P. Morgan, Piper Sandler, Evercore ISI, Citigroup, and DNB Markets as underwriters.
Factuality Level: 10
Factuality Justification: The article provides accurate information about HMH Holding’s business, its joint venture partners, services offered, locations, revenue, and plans for an IPO without any sensationalism or personal perspective.
Noise Level: 3
Noise Justification: The article provides relevant information about HMH Holding’s filing for an initial public offering, its services, revenue, locations, and planned listing on Nasdaq Global Select Market. It also mentions the underwriters involved in the process. However, it lacks analysis or exploration of long-term trends or consequences of decisions. There is no accountability or intellectual honesty, and it doesn’t offer actionable insights or new knowledge.
Public Companies: Baker Hughes (BKR)
Private Companies: Akastor,HMH Holding
Key People: Stephen Nakrosis (Author)
Financial Relevance: Yes
Financial Markets Impacted: The filing of an initial public offering (IPO) by HMH Holding will impact financial markets and companies in the oil-and-gas drilling industry, as it is a supplier of equipment and services to these companies. The IPO will also affect the Nasdaq Global Select Market where the company intends to list.
Financial Rating Justification: The article discusses an IPO filing by HMH Holding, which is related to financial markets as it involves raising capital and listing on a stock exchange. It also mentions its involvement in the oil-and-gas drilling industry, impacting companies within this sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification:
Move Size: No market move size mentioned.
Sector: Energy
Direction: Up
Magnitude: Small
Affected Instruments: Stocks
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