--- title: "Taking advantage of oil prices breaking $100, drilling solutions provider HMH rushes for a U.S. IPO aiming to raise $216 million" type: "News" locale: "en" url: "https://longbridge.com/en/news/280272515.md" description: "Drilling equipment and service provider HMH Holding plans to conduct an initial public offering (IPO) on the US stock market, aiming to raise $216 million by issuing 10.5 million shares at a price range of $19 to $22 per share. This IPO coincides with rising oil prices, with Brent crude oil priced at approximately $102 per barrel. HMH was established in 2021 and focuses on offshore operations-related projects, with the expected pricing date set for the week of March 30, 2026, under the stock ticker HMH" datetime: "2026-03-24T07:23:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280272515.md) - [en](https://longbridge.com/en/news/280272515.md) - [zh-HK](https://longbridge.com/zh-HK/news/280272515.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/280272515.md) | [繁體中文](https://longbridge.com/zh-HK/news/280272515.md) # Taking advantage of oil prices breaking $100, drilling solutions provider HMH rushes for a U.S. IPO aiming to raise $216 million According to the Zhitong Finance APP, drilling equipment and service provider HMH Holding (HMH.US) announced its initial public offering (IPO) terms on Monday. The Houston, Texas-based company plans to issue 10.5 million shares, with a price range of $19 to $22 per share, aiming to raise $216 million. HMH Holding submitted its IPO application in the U.S. for the first time in August 2024; this IPO launch coincides with a significant rise in oil prices following the outbreak of the Iran conflict. As of the time of publication, Brent crude oil prices hovered around $102 per barrel, with an increase of approximately 70% year-to-date. HMH's parent company, Baker Hughes (BKR.US), and Akastor have both seen their stock prices rise over 30% this year. HMH is a leading equipment supplier in the oil and gas industry, primarily engaged in offshore operations, product sales, and after-sales support services. The company operates globally, with branches in 16 countries and products sold in over 60 countries. Its core service clients include drilling contractors, oil and gas and mining operators, as well as equipment manufacturers. HMH focuses on a light asset business model, enabling business growth and scale expansion with low incremental investment, while also expanding into related fields such as seabed mining. HMH Holding was established in 2021 and achieved revenue of $822 million in the 12 months ending December 31, 2025. The company plans to list on NASDAQ under the ticker symbol HMH. 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