BUZZ-Baker Hughes venture HMH on track for muted Nasdaq debut

Reuters04-01

** Drilling equipment provider HMH Holding's HMH.O shares on track to open below offer price in Nasdaq debut

** Stock recently indicated to open at $19.25 apiece vs $20 offer price

** Houston, Texas-based HMH raised $210.4 million by selling 10.5 million shares within the marketed range of $19 to $22 each

** Baker Hughes BKR.O and Akastor AKAST.OL combined their offshore oil drilling equipment units to create HMH in 2021

** HMH, whose brands include Hydril, VetcoGray, Wirth and Maritime Hydraulics, provides drilling equipment and aftermarket services for offshore and onshore oil and gas drilling operations

** HMH's IPO was initially expected in the second half of 2024, but the firm remained on the sidelines until now

** J.P. Morgan, Piper Sandler and Evercore ISI were joint lead book-running managers for offering

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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