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Highlights

  • Infragreen completes AUD 40 million IPO; shares rise 15% to AUD 1.15 on debut.

  • IPO proceeds to pay down AUD 30 million debt and support future acquisitions in energy and waste sectors.

  • Company valued at approximately AUD 220 million post-float, with over 48 million shares in free float.

Infrastructure investment firm Infragreen made an entrance on the Australian Securities Exchange (ASX), with its shares rising 15% in morning trade following the successful completion of its AUD 40 million initial public offering (IPO). Shares opened at AUD 1 and climbed to AUD 1.15 shortly after listing at 11:00 AM AEST.

In total, 40 million shares were issued at AUD 1 each, giving the company an estimated market capitalisation of around AUD 220 million. The float introduces more than 48 million shares into public circulation, representing a meaningful free float from the total 220 million shares on issue.

Speaking to Capital Brief, Infragreen Chief Executive Declan Sherman stated that the IPO was designed to support the company’s strategic objectives, including the repayment of debt and funding for future investments. Specifically, AUD 30 million of the raised capital will go toward paying off a AUD 40 million debt facility provided by the family office of Queensland billionaire John van Lieshout.

Although the debt repayment is not time-sensitive, Sherman explained that eliminating gearing is a strategic move to boost the company’s balance sheet. By operating with no debt, Infragreen expects to improve access to future capital and debt facilities, which could support accelerated growth in the years ahead.

The remaining IPO proceeds are earmarked for acquisitions and investments in the energy and waste management sectors. According to Sherman, announcements related to these initiatives are expected by the end of the 2026 financial year.

While he did not disclose any imminent acquisition targets, Sherman noted that Infragreen maintains a productive relationship with the Clean Energy Finance Corporation (CEFC). He confirmed that discussions have taken place regarding potential co-investments in the battery sector, though these are not expected to materialise in the near term.

Prior to listing, Infragreen had already raised AUD 105 million through private equity.