BHGE changes name

Baker Hughes, a GE company has announced its successful name change to Baker Hughes Company. The company will be known as Baker Hughes, and on 18 October 2019, its Class A common stock will begin trading on the New York Stock Exchange under the symbol ‘BKR’.

In a press release the company commented: “Baker Hughes is positioned as an energy technology company, with a diverse portfolio that spans the entire energy value chain. The company’s new name and brand better reflect its current and intended principal business operations and diversified portfolio.”

These changes follow the recently-completed secondary offering of shares of Class A common stock and concurrent share repurchase, bringing General Electric Company and its affiliates’ ownership in the company to below 50% of the voting power of all classes of the company’s voting stock.

Source: hydrocarbonengineering.com