Capitalizing on Oil Prices Surpassing $100, Drilling Solutions Provider HMH(HMH.US)Rushes Toward US IPO With Planned Fundraising of $216 Million

CITIC Finance APP learned that drilling equipment and service provider HMH Holding (HMH.US) announced its initial public offering (IPO) terms on Monday. The company, headquartered in Houston, Texas, plans to issue 10.5 million shares at a price range of $19 to $22 per share, aiming to raise $216 million.

HMH Holding first filed for a U.S. IPO in August 2024; the IPO launch coincided with a sharp rise in oil prices following the outbreak of conflict in Iran. As of press time, Brent crude oil prices hovered around $102 per barrel, up approximately 70% since the beginning of the year. HMH’s parent company, Baker Hughes (BKR.US), and Akastor have both seen their stock prices increase by over 30% this year.

HMH is a leading equipment supplier in the oil and gas industry, mainly engaged in offshore operations, product sales, and after-sales services. The company operates globally, with branches in 16 countries, and its products are sold in over 60 countries. Its core clients include drilling contractors, oil and gas operators, mining companies, and equipment manufacturers. HMH adopts a light asset business model, enabling growth and scale expansion with low incremental investment, while also expanding into related fields such as subsea mining.

Founded in 2021, HMH Holding expects to achieve revenue of $822 million in the 12 months ending December 31, 2025. The company plans to list on NASDAQ under the ticker symbol HMH. JPMorgan Chase, Piper Sandler, Evercore ISI, Citigroup, and DNB Markets are acting as joint bookrunners for the offering, with the final offering price expected to be determined during the week of March 30, 2026.