NZX

They are a massive company.

But there's a new company coming to the NZX.

We've got an IPO coming, Lodestone.

This is like...

We have to go back to 2021.

That was, I think, Wintonland and MyFoodBag were the two last major NZX IPOs, basically.

So that was way back in 2021.

But from today, investors can actually apply for to take part in the first major NZX float since then.

So solar energy company Lodestone is looking to raise $100 million to expand its solar farms and also its electricity retail businesses, which it's moved into this year.

Those shares are expected to start trading on the NZX in late October.

Generate investment specialist Greg Smith says the timing is good as the offer taps into growing interest in renewable energy, electrification and, of course, the electricity that's going to be needed to power AI data centres.

He says it won't open the door to a new wave of IPOs on the NZX, but it is a step in the right direction.

Let me give you the numbers.

NZX 50 is up 0.14% today, so not a lot.

ASX 50 is up about half a percentage point so far today.

Barrel of Brent Crude is costing you US$107 up a bit there.

We have to go back to 2021.

That was, I think, Wintonland and MyFoodBag were the two last major NZX IPOs, basically.

So that was way back in 2021.

But from today, investors can actually apply here.

to take part in the first major NZX float since then.

So solar energy company Loadstone is looking to raise $100 million to expand its solar farms and also its electricity retail businesses, which it's moved into this year.

Those shares are expected to start trading on the NZX in late October.

Generate investment specialist Greg Smith says the timing is good as the offer taps into growing interest in renewable energy, electrification and, of course, the electricity that's going to be needed to power AI data centres.

I think I was about to pull out the bunting and get the glitter cannon going.

And certainly the NZX will be doing that because that's what they do when they have a new company list on the exchange.

So they might do that in a month's time.

As we were talking about last week, Lodestone, the solar energy company, has confirmed that it will be having a share float later in the month.

It's looking to raise between 75 and 100 million dollars in this shift.

It'll be the first big issue since property developer Wintonland listed in 2021.

And in between, I have to say that the NZX has lost more companies than it's gained.

The indications are that the shares will be sold at $2.25 each, and that will give Lodestone a value of somewhere around $440, $460 million.

It's almost a poker hand.

And the...

Our NZX50, it'll open today at around $13,831.

All the action's been on oil.

Brent crude prices have been all over the place overnight, up to $108 US, down to nearly $104.

I think I was about to pull out the bunting and get the glitter cannon going.

And certainly the NZX will be doing that because that's what they do when they have a new company list on the exchange.

So they might do that in a month's time.

As we were talking about last week, Lodestone, the solar energy company, has confirmed that it will be having a share float later in the month.

It's looking to raise between 75 and 100 million dollars in this shift.

It'll be the first big issue since property developer Wintonland listed in 2021.

And in between, I have to say that the NZX has lost more companies than it's gained.

The indications are that the shares will be sold at $2.25 each, and that will give Lodestone a value of somewhere around $440, $460 million.

And the Shareholders Association has spent years pushing for capital markets reforms that balance the needs of investors and issuers.

Now, the NZX is looking at a lighter touch regime for smaller company listings to encourage more firms to go public.

And you'll find details and reaction in Business Desk today with its excellent small cap wrap shining a light on that end of the market.

Now into that arena marches Sharesies with its new Registry product, which it hopes will do for companies what its investing platform has done for retail investors.