HMH Holding

HMH Holding (Ticker: HMH US) provides equipment and related services for companies involved in oil and gas drilling. HMH Holding was formed in 2021 as a joint venture combining the offshore drilling equipment businesses of Baker Hughes and Akastor, which each held a 50% stake before the IPO. For the 12 months ended December 31, 2025, the company reported revenue of $821.80 million and net income of $46.10 million. Aftermarket services and spare parts reportedly generated the majority of revenue. The company's heritage brands trace their manufacturing roots to 1895.

The scheduled listing date on Nasdaq was April 1, 2026. The proposed offering comprises 10,520,000 shares at an indicative price range of $19.00–22.00 per share. At the indicative range midpoint, the base offering would represent $215.66 million in gross proceeds, excluding any unexercised over-allotment. The indicated IPO market capitalization is up to $948.00 million.