FORNEBU, Norway, Aug. 13, 2024 /PRNewswire/ -- Reference is
made to Akastor ASA's (OSE: AKAST) press release 3 June 2024 concerning its 50% owned affiliate
HMH Holding B.V. ("HMH") and the confidential first draft
registration statement on Form S-1 (the "Registration Statement")
that was submitted with the U.S. Securities and Exchange Commission
("SEC") relating to a proposed initial public offering of HMH
Holding Inc.'s shares. As part of the customary SEC review process,
HMH has submitted an updated draft Registration Statement which is
publicly filed with the SEC, which means that the content of the
draft Registration Statement now is publicly available on SEC's
online database (EDGAR). However, the Registration Statement is not
yet final or effective and is subject to updates and changes.
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/
Akastor is a Norway-based
oil-services investment company with a portfolio of industrial
holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.
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