What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to report that Schlumberger Limited's indirect, wholly owned subsidiary, NPTest, Inc., has filed a registration statement for an initial public offering (IPO) of its common stock.

What does the proposed IPO of NPTest, Inc. mean for Schlumberger?

The proposed IPO suggests that Schlumberger may be divesting its stake in NPTest, Inc., allowing it to operate as an independent public company. This could allow Schlumberger to focus on its core businesses and potentially realize capital from the offering.

What is NPTest, Inc.?

NPTest, Inc. is identified as an indirect, wholly owned subsidiary of Schlumberger Limited. The filing does not provide specific details about NPTest's business operations, but its IPO indicates it is a distinct entity being prepared for public trading.

When can investors expect more details about the NPTest IPO?

This filing announces the initial registration statement. Further details regarding the IPO, such as the number of shares to be offered, pricing, and the exact timeline, will be disclosed in subsequent filings with the SEC as the offering progresses and market conditions permit.

SLB 8-K SEC Disclosure — May 21, 2002

Summary

Schlumberger Limited (SLB) has filed an 8-K report on May 21, 2002, to announce a significant development regarding its subsidiary, NPTest, Inc. The filing highlights that NPTest, an indirect wholly owned subsidiary, has submitted a registration statement to the SEC for a proposed initial public offering (IPO) of its common stock. This move indicates a potential spin-off or divestiture of NPTest from the broader Schlumberger organization, allowing NPTest to operate as an independent, publicly traded entity. Investors should view this development as a strategic step that could unlock value for both Schlumberger and NPTest. For Schlumberger, it may lead to a more focused business strategy and potential capital gains from the IPO. For NPTest, the IPO offers access to public capital markets, which could fuel its growth and development as a standalone company. The details of the IPO, including the number of shares and pricing, will be subject to further SEC review and market conditions.

Key Highlights

1Schlumberger Limited (SLB) announced the filing of a registration statement by its indirect, wholly owned subsidiary, NPTest, Inc.
2NPTest, Inc. intends to conduct an initial public offering (IPO) of its common stock.
3The filing was made with the Securities and Exchange Commission (SEC).
4This event suggests a potential separation of NPTest from Schlumberger's core operations.
5The press release detailing this event is attached as Exhibit 99.1 to the 8-K filing.
6The Chief Accounting Officer, Frank A. Sorgie, signed the report on behalf of Schlumberger N.V.

SLB LIMITED/NV 8-K Report (May 21, 2002)

Summary

Key Highlights

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