IFR US ECM Pricings
HMH (US, oilfield services) ─ $210.4m IPO. 10.5m shares (Primary) at $20.00 versus $19-$22 marketing. JPM, PS, EVER, CITI, DNB, STFL. Nasdaq “HMHW”. A portion of proceeds being used to repurchase 4.2m shares from Baker Hughes and Akastor for $40.5m.
Service Properties Trust (US, hospitality REIT) ─ $500m FO. 416.7m shares (Primary) at $1.20 versus $1.36 last sale and $1.79 at launch. YORK, JONES. Wall cross. Backed with $150m of indications of interest from Helix Partners and RMR Group, plus incremental support from members of the management team.