OMS Energy: From MBO to NASDAQ & A 40% Stock Drop

In June 2023, How Meng Hock led a management buyout (MBO) of OMS Energy from Sumitomo Corporation to prevent the company from liquidation. Less than two years later, he successfully listed the company on the NASDAQ, raising over $33 million.

However, the transition to public life has been turbulent. Since its IPO in May 2025, the stock has faced significant volatility, dropping around 40% from its listing price.

How Meng Hock joins us to deconstruct this whirlwind journey. He opens up about the complex financial engineering behind the buyout, the "James Bond" level secrecy required to keep the business stable, and the realities of navigating Investor Relations as a foreign issuer in the US.

We discuss:

• The MBO Deal: How he acquired the company for $2 million cash plus taking on existing debt to save 600 jobs and lessons learnt from the process.

• Accounting Anomalies: Unpacking the $49 million "bargain purchase gain"

• The NASDAQ Lesson: Why deep market liquidity doesn't guarantee stock performance and other lessons from listing on the Nasdaq

• Leadership Shifts: The psychological weight of no longer having a "guy upstairs" to defer to.

• Strategy: Why he views the future as "Energy Addition" rather than just transition.

  For founders and CEOs considering an exit or listing, this is a candid look at the mechanics of an MBO and the relentless demands of the public markets.

Image Credit: OMS Energy Technologies

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