INNIO IPO: Shares of energy solutions provider for data centers begin trading

Preliminary trading in shares of INNIO Holding GmBH, a manufacturer of gas engines for artificial intelligence data centers and other critical infrastructure, has begun on the Freedom client trading system. Later on June 4, the company's securities will appear on the Nasdaq under the ticker INIO.

The major shareholders of gas engine maker INNIO raised $2.43 billion in an IPO on Nasdaq. They sold 90 million shares, 20% more than originally planned, at $27 apiece. This is the upper limit of the price range ($24-27). Thus, the company's capitalization amounted to 20.7 billion, Bloomberg calculated.

INNIO points out that it did not offer any paper in this offering, and therefore will receive nothing from the transaction.

Goldman Sachs, J.P. Morgan and Morgan Stanley became the organizers of the listing. They received a 30-day option to buy 13.5 mln shares of the company.

INNIO in its current form emerged in 2018. At first, General Electric merged two companies - the American Waukesha and Austrian Jenbacher - into a distributed energy division. This division was then bought from GE for $3.25 billion by investment group Advent International. A little later, in 2023, a minority stake in INNIO was acquired by the sovereign fund Abu Dhabi Investment Authority.

INNIO is now positioning itself as a provider of solutions for companies that need reliable power supply in the face of growing limitations of traditional power grids, Seeking Alpha writes. The company claims that its modular gas-powered systems can quickly provide power to data centers that may wait years to be connected to utility grids.

Power demand will grow at about 1.6% per year between 2025 and 2035, the company said in its IPO prospectus to the regulator. Meanwhile, data center demand will grow 14-18% annually in the next five years alone. Grid congestion, permit delays and transmission problems are increasingly pushing data center operators to use their own power sources.

INNIO has already benefited from the growing power demand associated with the development of AI infrastructure, Reuters notes. For 2025, the company reported a nearly 188% increase in its equipment order book to $3.88 and a 22.1% increase in revenue to $2.6 billion. Net income last year jumped 54% to $141.8 million.

For investors, acquiring INNIO securities is another opportunity to gain exposure to a rapidly growing ecosystem that supports artificial intelligence infrastructure, Seeking Alpha notes.

The main risks for business are market competition, external economic factors and changes in tariffs, Freedom Broker analyst Alem Bektemirov said.

"In the run-up to the SpaceX IPO, things are shaping up favorably for anything related to AI and space," Joseph Schuster, CEO of financial services firm IPOX, told Reuters. He said investors have high hopes that companies in these sectors will lead the next wave of global economic growth.

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Freedom clients will be able to get access to shares of INNIO Holding GmBH, before the opening of the main exchange session. Trading will begin in the early pre-market format 2-3 hours before the opening of the US exchanges (from 15:30-16:30 Astana time). To participate, click on ticker INIO.

This article was AI-translated and verified by a human editor