There has long been talk of Akastor taking its largest investment, HMH (formerly MHWirth), public. Now the company has sent a preliminary draft to the US stock market supervisory body, the Securities and Exchange Commission (SEC). This represents the first step toward a potential U.S. listing, according to the exchange's announcement Monday morning.
– There are several factors that affect this. As previously mentioned, in recent years the company has focused heavily on integration, and only in the last few months was it prepared to undergo the listing process, Akastor CFO, Øyvind Paske, wrote in an SMS to Finansavisen.
In addition, we believe that the timing is interesting in terms of the company's development and results and that the market looks positive for the future.
The size and price range have not yet been determined, but the process is expected to begin after the SEC makes its decision, which is likely to be during the second half of 2024, the statement said.
However, it was stressed that there is no guarantee that the IPO will be implemented.
The investment company, controlled by Kjell Inge Røkke, has stakes in several companies. The largest investment is drilling services supplier HMH, which was spun off in 2021 into a joint venture in which Akastor holds a 50 percent stake.
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