INIO INNIO Holding GmbH
Executive Summary
INNIO Holding GmbH filed Amendment No. 1 to its S-1 IPO registration statement, confirming the offering of 75 million common shares by selling shareholder AI Alpine at an estimated $24-$27 per share. The SEC declared the registration effective on June 3, 2026, making the IPO imminent. The company will not receive any proceeds from the offering and will remain a controlled company with 90% ownership by the selling shareholder post-IPO.
Key Financial Metrics
Actionable Insight
IPO is imminent following SEC effectiveness. Monitor pricing and first-day trading for liquidity and valuation signal. The 180-day lock-up on 675M shares will cap near-term supply, but substantial overhang exists post-lock-up.
Key Facts
- Selling shareholder AI Alpine is offering 75,000,000 common shares at $24.00-$27.00 per share.
- Company will not receive any proceeds from the offering.
- Post-IPO, the selling shareholder will own approximately 90% of outstanding shares, making INNIO a 'controlled company' under Nasdaq rules.
- For FY2025, revenue grew 22.1% YoY to $2,636.8 million, net income was $141.8 million.
- Data center Equipment Order Intake surged to $2,282 million in FY2025 from $27 million in FY2023.
- Registration was declared effective by the SEC on June 3, 2026, clearing the path for the IPO.
Financial Impact
IPO size of $1.8-$2.025 billion at the midpoint (75M shares × $25.50 midpoint). Company receives no proceeds; all proceeds go to selling shareholder.
Risk Factors
- High concentration of ownership (90% post-IPO) gives selling shareholder control, limiting minority shareholder influence.
- Rapid growth in data center segment may strain manufacturing capacity and supply chain.
- Exposure to tariff and trade policy changes, particularly U.S. tariffs on steel and aluminum.
- Material weaknesses in internal control over financial reporting require remediation.
- Dependence on a limited number of large customers (top 5 accounted for 39% of Q1 2026 revenue).
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-1/A Filing (Primary) | 0001193125-26-237848 |
| Document: ck0002109150-ex10_7.htm | 0001193125-26-237848 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 8, 2026
6d ago
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Insider Cluster
| $33.54 awaiting T+1 | awaiting T+1 | — | $32.37 (+3.49%) |
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Jun 4, 2026
10d ago
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3
| $32.85 awaiting T+1 | awaiting T+1 | — | $32.37 (−1.46%) |
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Jun 4, 2026
10d ago
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3
| $30.60 awaiting T+1 | awaiting T+1 | — | $32.37 (+5.78%) |
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Jun 4, 2026
10d ago
|
3
| $32.85 awaiting T+1 | awaiting T+1 | — | $32.37 (−1.46%) |
|
Jun 4, 2026
10d ago
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424B4
| $33.20 $32.22 | ▼ −2.95% | ▼ −0.35% | $32.37 (−2.50%) |
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Jun 4, 2026
11d ago
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EFFECT
| $33.30 $32.22 | ▼ −3.24% | ▼ −0.64% | $32.37 (−2.79%) |
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May 26, 2026
19d ago
|
S-1/A
| — | awaiting T+1 | — | — |
US Market Status
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