This name change will better reflect Baker Hughes’ current and intended principal business operations and will see the company’s Class A common stock now traded on the New York Stock Exchange under ‘BKR’.
The change follows the recently closed secondary offering of 132.25 million shares of BHGE Class A common stock.
The closing of the secondary offering and concurrent share repurchase reduced General Electrical Company (GE) and its affiliates’ ownership in Baker Hughes to below 50 per cent of the voting power of all classes of the company’s voting stock.
Baker Hughes is now uniquely positioned as an independent energy technology company that hosts a diverse portfolio, spanning the entire energy value chain and providing solutions for energy and industrial customers worldwide.
The company is confident that its century of experience combined with operations that span 120 countries will allow its innovative technologies and services to continue to propel energy forward.
For more information visit the Baker Hughes website.
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