Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
An update from Akastor ASA ( (AKKVF) ) is now available.
Akastor ASA said its indirect 50% owned affiliate HMH Holding Inc. has priced its initial public offering of 10,520,000 Class A shares at USD 20 each on the Nasdaq Global Select Market under the ticker HMH, with trading expected to start on 1 April 2026 and closing on 2 April 2026, subject to customary conditions. Upon completion, Akastor will cut its HMH stake to about 37% in exchange for roughly USD 19.7 million in net cash, with a 30-day underwriters’ option for up to 1,578,000 additional shares that could further reduce its holding to around 35% and add about USD 14.8 million, while the company has agreed to a 180-day lock-up on its remaining HMH interests, signaling a structured partial exit and potential capital redeployment within its oil-services portfolio.
More about Akastor ASA
Akastor ASA is a Norway-based oil-services investment company that manages a portfolio of industrial holdings and other energy-related investments with a flexible mandate for active ownership and long-term value creation. Its affiliate HMH Holding Inc. is a leading provider of highly engineered drilling equipment, services and systems for offshore and onshore oil and gas operations, and is expanding into adjacent sectors such as mining through integrated manufacturing and aftermarket support.
Average Trading Volume: 315,259
Current Market Cap: NOK4.14B
Find detailed analytics on AKKVF stock on TipRanks’ Stock Analysis page.