Lodestone Energy receives firm investor commitments for IPO

The IPO represents an important development for New Zealand’s capital markets, being the country’s first significant public offering in approximately five years. It also marks the next stage in Lodestone’s evolution from an emerging solar developer into an established renewable electricity generation and retail business.

Gary Holden, Managing Director and Founder of Lodestone Energy, said the successful offer, which introduced new institutional and retail shareholders, as well as further investment from existing shareholders, reflects the strength of the business and the significant opportunities ahead.

“This is an important milestone for Lodestone and for New Zealand’s capital markets. Bringing a significant new company to the NZX after a prolonged period of limited IPO activity is a positive development for the market.

“Lodestone enters this next phase with an established track record, operating generation assets, a differentiated business model and a clear pathway for continued expansion.

“The company’s ability to combine renewable generation with direct customer relationships provides an important competitive advantage and creates opportunities to deliver long-term value for both customers and shareholders.”

“New Zealand’s increasing electricity requirements provide a compelling opportunity for further renewable generation investment,” Holden said.

“Lodestone is well positioned to contribute to meeting that demand through the continued development of its solar generation portfolio supported by the expansion of its electricity retail business.

“The successful IPO provides a strong foundation for the company’s next stage of growth, and we look forward to welcoming our new shareholders next week.”