New Zealand’s Lodestone Energy launches up to $100m IPO

Proceeds will fund new solar farms and customer expansion.

Lodestone Energy is seeking to raise $75m to $100m through an initial public offering (IPO) on the New Zealand Stock Exchange.

The IPO opened on 29 September 2026 and closes on 14 October 2026. Shares are priced at $2.25 each, giving the company a post-IPO market capitalisation of $440m to $465m.

No existing shareholders will sell shares through the offer. The proceeds will fund new solar farms, customer expansion and general corporate purposes.

Lodestone Energy operates five utility-scale solar farms across New Zealand and supplies electricity to commercial and industrial customers. It is also expanding into the mass-market retail segment.

Its five solar farms generate enough electricity to power more than 33,000 average New Zealand homes annually. A sixth farm is under construction, with the company targeting 16 to 18 operating solar farms by FY32.