Reuters: IPOX® CEO Josef Schuster Discusses Energy Sector Resilience Amid HMH Holding’s US IPO

A recent article by Reuters covers the upcoming U.S. initial public offering of oil and gas equipment maker HMH Holding. Stepping into the market to capitalize on soaring crude prices, the company is targeting a valuation of up to $948 million and aims to raise $231 million by offering 10.5 million shares priced between $19 and $22. HMH plans to list on the Nasdaq under the ticker "HMH."

Formed in 2021 through the combination of the offshore drilling equipment units of Baker Hughes and Akastor, HMH generates the majority of its revenue from aftermarket services and spare parts. While the HMH name is relatively new, its heritage brands, such as Wirth, trace their manufacturing roots back to 1895. The article notes that after initially filing for an IPO in August 2024, the company is now moving forward despite slight year-over-year dips in 2025 revenue ($821.8 million) and net income ($46.1 million). Bankers note that capital markets remain highly accessible for energy issuers, largely driven by ongoing geopolitical turmoil in the Middle East.

IPOX® CEO Josef Schuster was featured in the piece, providing expert analysis on current investor sentiment and broader IPO market dynamics. He emphasized the stark contrast between the cautious approach seen in the general market and the strong demand for energy and defense listings.

"The market is extremely price-sensitive. Except for companies in the defense and energy sector, the IPO market is a buyers market right now with firms facing high initial pricing scrutiny."

Read the full article by Arasu Basil on Reuters: Baker Hughes-backed HMH Holding seeks $948 million valuation in US IPO