Innio from Tyrol valued at $20.7 billion on Nasdaq

Innio, an Austrian-based manufacturer of gas engines, is preparing for its Nasdaq debut with an estimated valuation of $20.7 billion. The company, which officially has its headquarters in Munich, has set its initial public offering (IPO) price at $27 per share. This move comes amid significant investor interest in industrial equipment suppliers perceived to benefit from the increasing energy demands fueled by artificial intelligence.

The IPO will see major shareholders Advent and the Abu Dhabi Investment Authority (ADIA) selling more shares than initially planned, capitalizing on strong demand. The trading is scheduled to commence on Thursday, June 4, under the ticker symbol "INIO." The offering aims to raise $2.43 billion for the selling shareholders, with 90 million shares sold at the set price. Initial demand for the shares was reportedly many times the available offering, according to Bloomberg.

Innio operates under the brands Jenbacher and Waukesha, offering gas engines and a AI-based software platform called Myplant for power plants. Its production facilities are located in Austria, Canada, and the United States. The company's top five customers accounted for approximately 39% of its revenue in the first quarter of 2026.

Financially, Innio reported a net loss of $9 million on revenues of $668.6 million for the first quarter of 2026. This contrasts with a net profit of $35 million on $494 million in revenue during the same period the previous year. Innio's IPO follows a trend of larger listings from industrial companies, as investors seek firms poised to gain from the growing electricity and infrastructure needs driven by the AI boom.