Lodestone Energy NZX listing set for October 22 at $2.25 a share

Solar power company Lodestone plans to list on the NZX.

Solar power company Lodestone Energy wants to raise up to $100 million and list on the NZX on October 22, making it the first substantial listing on the exchange in almost five years.

Expressions of interest in a possible initial public offer (IPO) and NZX listing for Lodestone closed on Friday.

In a notice to the NZX, Lodestone said the reference price of its shares would be $2.25 a share.

Up to 206.66 million shares would list, which would give the company a potential market capitalisation of $465 million.

No shareholders are selling through the offer, and capital raised will support the construction of additional solar farms, the expansion of Lodestone Energy’s customer base and general corporate purposes, the company said.

The IPO opens on September 29 and closes on October 14.