Lodestone Energy shares debut on NZ sharemarket 4.4% above $2.25 offer price
Solar power company Lodestone Energy has successfully debuted on the New Zealand stock exchange, raising $75 million in its IPO. The company plans to use the funds to expand its network of solar farms across the country.
Why it matters
This marks the first significant IPO on the NZX in five years, signaling a potential revival in local market activity and investor interest in renewable energy infrastructure.
Shares in solar power company Lodestone Energy debuted on the NZX at a premium to its $2.25 per share offer price.
The stock first traded at $2.35 – a 10c (4.44%) premium – before settling back to $2.26.
Trading in the stock, which started at noon, was light.
The initial public offering drew in about 10,000 new shareholders.
The company said the offer raised $75 million – at the bottom end of an earlier advised $75m to $100m range.
Lodestone is the first company of any significant size to debut on the NZX in five years.
The company said the offer attracted a broad mix of investors, with almost half of the capital raised coming from new retail investors, and the remainder from institutional investors and existing shareholders.
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