Lodestone lists on NZX after raising NZ$75 million for solar pipeline

Lodestone Energy began its next growth phase as a publicly listed company when its shares commenced trading on the NZX on 22 October. Its investor information page says the offering had raised NZ$75 million and attracted around 10,000 new shareholders. The company described the IPO as New Zealand’s first significant listing in five years. The listing followed the company’s announced IPO completion and scheduled trading date; the share offer was priced at NZ$2.25 per share.

Lodestone develops, constructs and operates utility-scale solar farms in New Zealand, selling generated electricity directly to customers. The company says it has commissioned five farms with a combined operating capacity of 169 megawatts direct current. It estimates that those sites represent expected first-year P50 generation of 266 gigawatt-hours, equivalent in its own comparison to the annual electricity use of more than 33,000 homes. These are company-reported portfolio figures, and P50 generation is an estimate rather than measured annual output.

The company says IPO proceeds are intended to support continued construction of farms in its development pipeline, expansion of its customer base and general corporate purposes, including offer costs. It set a target of 16 to 18 operating solar farms by FY32, with two to three new farms entering service each year. That target is a forward-looking development plan; the investor page does not identify the full delivery schedule or guarantee completion of each project.

The listing connects renewable generation development with retail supply: Lodestone describes its model as combining project development, construction management, operations and maintenance, generation sales and retail capability. The funding therefore supports a vertically integrated growth plan rather than a single named construction contract. The public page does not provide a project-by-project breakdown of how the NZ$75 million will be allocated, so that detail remains unknown in this report.

The IPO page also states that shares were allotted on 21 October and applications were accepted in full without scaling. Trading was scheduled for noon the next day. The NZ$75 million is therefore the gross amount described as raised by the offer, while its stated uses include development-pipeline construction, customer growth, general corporate purposes and offer costs; the release gives no individual project allocation.

A same-day NZX announcement identifies the issuer code as LOD and says the listing followed the NZ$75 million IPO. It also describes five operating solar farms and a sixth under construction in Hawke’s Bay. This provides a dated exchange-side confirmation of the listing and a snapshot of the project pipeline; it does not disclose a farm-by-farm allocation of IPO proceeds.

Sources

1. Initial Public Offering completeCompany releaseLodestone Energy LimitedRead 25 October 2026
2. Lodestone Energy lists on NZXStock exchange filingNZX Limited / Lodestone Energy LimitedPublished 22 October 2026Read 25 October 2026

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