Baker Hughes-backed HMH climbs one day after Nasdaq debut

Akastor ASA

02/04/2026 11:24

** Shares of drilling equipment provider HMH Holding HMH.O up 1% at $19.47 premarket a day after Nasdaq debut

** Stock down 5.5% on debut on Wednesday, opening at $18.90 versus an IPO price of $20

** HMH raised $210.4 mln by selling 10.5 mln shares within its marketed range of $19 to $22

** HMH was formed in 2021 by Baker Hughes BKR.O and Norway’s Akastor AKAST.OL, combining their offshore drilling equipment units

** Co was valued at about $815 mln at the end of its first day of trading

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))