Akastor ASA: HMH announces its intention to pursue US listing

Core Viewpoint - HMH Holding Inc., a subsidiary of HMH, has submitted a confidential first draft registration statement for a proposed initial public offering (IPO) with the U.S. SEC, marking a potential step towards a U.S. listing [1][2]. Company Overview - HMH is a premier drilling solutions provider formed in October 2021 through the merger of Baker Hughes' Subsea Drilling Systems business and Akastor ASA's subsidiary, MHWirth AS [4]. - The company offers integrated delivery capabilities and a full range of offshore drilling equipment products and packages, aiming to enhance energy efficiency and competitiveness in the sector [4]. - HMH plans to leverage its service and technology portfolio for future growth opportunities in drilling services and adjacent industries such as renewables and mining [4]. IPO Details - The size and price range for the proposed IPO have not yet been determined, and the offering is expected to commence after the SEC review process, likely in the second half of 2024, subject to market conditions [2]. - There is no assurance that the IPO will be completed [2].