US Stock Market Move | Drilling equipment and service provider HMH Holding (HMH.US) made its debut on the US stock market with its opening stock price falling by 1.3%.

On Wednesday, drilling equipment and services provider HMH Holding (HMH.US) made its debut on the U.S. stock market, with the opening stock price falling by 1.3% to $19.74. The IPO price was $20. HMH was formed through a strategic integration of two industry giants. In 2021, global energy technology company Baker Hughes and Norwegian investment company Akastor reached an agreement to merge their respective subsea drilling equipment businesses and establish the joint venture HMH. The company currently operates several well-known brands in the industry, including Hydril, VetcoGray, and Wirth, providing a full range of drilling systems and pressure control equipment for offshore and onshore oil and gas operations. The company operates globally, with branches in 16 countries and products sold to more than 60 countries.