Akastor ASA: Update on HMH's US listing process
Akastor ASA provided an update on its 50%-owned affiliate, HMH Holding B.V. HMH has filed an updated draft Registration Statement for its proposed IPO with the SEC. This filing is now public on the SEC's EDGAR database but is not yet final or effective. HMH intends to list its Class A shares on the Nasdaq Global Select Market under the symbol HMHW. The offering's completion is subject to market conditions and other factors. The number of shares and price range have not been determined. HMH, formed in October 2021 by merging Baker Hughes' Subsea Drilling Systems and Akastor's MHWirth AS, offers critical drilling solutions for oil, gas, and mining sectors.
Akastor ASA ha fornito un aggiornamento sulla sua affiliata di cui detiene il 50%, HMH Holding B.V.. HMH ha presentato un progetto aggiornato di Dichiarazione di Registrazione per il suo IPO proposto alla SEC. Questa registrazione è ora pubblica nel database EDGAR della SEC, ma non è ancora definitiva o efficace. HMH intende quotare le sue azioni di Classe A sul Nasdaq Global Select Market con il simbolo HMHW. Il completamento dell'offerta è soggetto a condizioni di mercato e altri fattori. Il numero di azioni e l'intervallo di prezzo non sono stati ancora determinati. HMH, formata nell'ottobre 2021 dalla fusione dei sistemi di perforazione sottomarina di Baker Hughes e di MHWirth AS di Akastor, offre soluzioni di perforazione critiche per i settori del petrolio, del gas e delle miniere.
Akastor ASA proporcionó una actualización sobre su afiliada de la que posee el 50%, HMH Holding B.V.. HMH ha presentado un borrador actualizado de la Declaración de Registro para su oferta pública inicial (IPO) propuesta ante la SEC. Esta presentación es ahora pública en la base de datos EDGAR de la SEC, pero aún no es definitiva ni efectiva. HMH tiene la intención de listar sus acciones Clase A en el Nasdaq Global Select Market bajo el símbolo HMHW. La finalización de la oferta está sujeta a las condiciones del mercado y otros factores. El número de acciones y el rango de precios aún no se han determinado. HMH, formada en octubre de 2021 por la fusión de los sistemas de perforación submarina de Baker Hughes y MHWirth AS de Akastor, ofrece soluciones críticas de perforación para los sectores de petróleo, gas y minería.
Akastor ASA는 자사의 50% 지분을 보유한 자회사 HMH Holding B.V.에 대한 업데이트를 제공했습니다. HMH는 SEC에 제안된 IPO에 대한 업데이트된 등록 선언서 초안을 제출했습니다. 이 신고서는 현재 SEC의 EDGAR 데이터베이스에 공개되어 있지만 아직 최종적이거나 유효하지 않습니다. HMH는 HMHW 기호로 Nasdaq Global Select Market에 클래스 A 주식을 상장할 계획입니다. 이 공모의 완료는 시장 상황 및 기타 요인에 따라 달라집니다. 주식의 수와 가격 범위는 아직 결정되지 않았습니다. HMH는 2021년 10월 Baker Hughes의 해저 굴착 시스템과 Akastor의 MHWirth AS의 합병으로 설립되었으며 석유, 가스 및 광업 부문을 위한 중요한 굴착 솔루션을 제공합니다.
Akastor ASA a fourni une mise à jour concernant son affilié dont il détient 50%, HMH Holding B.V.. HMH a déposé un projet de Déclaration d'Enregistrement mise à jour pour son IPO proposé auprès de la SEC. Ce dépôt est maintenant public dans la base de données EDGAR de la SEC mais n'est pas encore final ou effectif. HMH a l'intention de lister ses actions de Classe A sur le Nasdaq Global Select Market sous le symbole HMHW. La réalisation de l'offre est soumise aux conditions du marché et à d'autres facteurs. Le nombre d'actions et la fourchette de prix n'ont pas encore été déterminés. HMH, formée en octobre 2021 par la fusion des systèmes de forage sous-marin de Baker Hughes et de MHWirth AS d'Akastor, propose des solutions de forage essentielles pour les secteurs du pétrole, du gaz et des mines.
Akastor ASA hat ein Update zu seiner 50%-Tochtergesellschaft HMH Holding B.V. gegeben. HMH hat einen aktualisierten Entwurf einer Registrierungsstatement für ihr geplantes IPO bei der SEC eingereicht. Diese Einreichung ist jetzt öffentlich in der EDGAR-Datenbank der SEC, aber noch nicht endgültig oder wirksam. HMH beabsichtigt, ihre Klasse-A-Aktien unter dem Symbol HMHW am Nasdaq Global Select Market zu listen. Der Abschluss des Angebots hängt von den Marktbedingungen und anderen Faktoren ab. Die Anzahl der Aktien und der Preisrahmen wurden noch nicht festgelegt. HMH, die im Oktober 2021 durch die Fusion der Unterwasserbohrsysteme von Baker Hughes und MHWirth AS von Akastor gegründet wurde, bietet entscheidende Bohrlösungen für die Öl-, Gas- und Bergbauindustrie an.
- HMH filed an updated draft Registration Statement for its IPO, now publicly available.
- HMH intends to list its Class A shares on Nasdaq Global Select Market under 'HMHW'.
- The offering is subject to market conditions, with no assurance of completion.
- The number of shares and price range for the offering are undetermined.
HMH's public filing of the updated draft Registration Statement marks a significant milestone in its journey towards an IPO. This move enhances transparency and signals progress in the listing process. However, investors should note that the offering is still subject to market conditions and regulatory approvals.
The planned listing on Nasdaq under the symbol "HMHW" could potentially improve HMH's access to capital and liquidity. For Akastor, which owns 50% of HMH, a successful IPO could lead to a significant value realization opportunity. The oil and gas services sector has been showing signs of recovery, which could create a favorable environment for this offering.
Investors should closely monitor the pricing and size of the offering when announced, as these will be key indicators of market appetite and valuation. The IPO's success could have broader implications for the oil services sector, potentially signaling renewed investor interest in this space.
The public filing of HMH's updated draft Registration Statement with the SEC is a important legal step in the IPO process. This move complies with regulatory requirements and allows for public scrutiny of the company's financials and operations. However, it's important to note that the Registration Statement is not yet effective and further amendments may be required.
The company's cautionary statements regarding the offering's completion and the prohibition of securities sales before the Registration Statement becomes effective are standard legal disclosures. These protect the company from potential legal issues related to premature offers or sales. Investors should be aware that the IPO process is still ongoing and regulatory hurdles remain before any securities can be sold.
The mention of Rule 134 under the Securities Act indicates compliance with specific communication rules during the IPO process, demonstrating the company's adherence to legal requirements in its public disclosures.
FORNEBU,
HMH Holding Inc. intends to list its Class A common stock on The Nasdaq Global Select Market under the symbol "HMHW". The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed. The number of shares to be offered and the price range for the offering have not yet been determined.
For further information, please contact:
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
Oyvind.paaske@akastor.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release is being made pursuant to, and in accordance with, Rule 134 under the Securities Act of 1933, as amended (the "Securities Act"), and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.
About HMH
HMH is a premier drilling solutions provider, which was formed as an independent company in October 2021 through the merger of Baker Hughes' (NYSE: BKR) Subsea Drilling Systems business and Akastor ASA's wholly owned subsidiary, MHWirth AS.
HMH is a leading provider of highly engineered, mission-critical equipment solutions, providing customers with a comprehensive portfolio of drilling equipment, services and systems utilized in oil and gas drilling operations, both offshore and onshore. HMH's global reach, technical expertise and innovative product offerings, coupled with its integrated operations from manufacturing to aftermarket services, allow HMH to provide customers with first class technology, engineering and project management services through the entire asset lifecycle of the equipment it provides. In addition, HMH is growing its portfolio of products and services to adjacent industries, such as mining. The complexity and criticality of HMH's installed equipment drive customers to choose HMH for their aftermarket support, particularly in the offshore environment, which is subject to extensive regulation.
For further information, please visit homepage: https://hmhw.com/
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SOURCE Akastor ASA
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