With today’s IPO, ASTA Energy has entered the big stage of the capital market. The company can look forward to the support of a large German corporation.
• ASTA Energy Solutions completes IPO
• Just a few months earlier, spin-off from Montana Aerospace
• Siemens Energy on board as anchor shareholder
The Austrian company ASTA Energy Solutions, specializing in highly complex copper-based components for the energy infrastructure, is celebrating its debut on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange this Friday. The issue price of the share was set at 29.50 euros as part of the bookbuilding process; the first price was 43.00 euros, significantly higher. The shares were initially traded above their initial price, but ultimately traded 6.98 percent lower at EUR 40.00.
Well-known investors as a signal of trust
The IPO is the first IPO in Frankfurt in 2026 and exemplifies investors’ renewed interest in industrial and infrastructure stocks with a clear energy connection. ASTA Energy also received tailwind when jumping onto the trading floor from several anchor shareholders. These include the German energy company Siemens Energy, which is also one of ASTA’s customers and had already committed to subscribing to a share package worth around 25 million euros. According to a press release from the newcomer to the stock exchange, institutional investors such as BNP Paribas Asset Management and Invesco also participated in advance with firm commitments. Together, all Cornerstone investors subscribed to ASTA Energy shares with a total value of around 55 million euros as part of the IPO.
A total of up to 4.55 million were raised as part of the IPO new shares offered from a capital increase as well as 1.37 million existing shares owned by existing shareholders. One over-allotment option amounted to 860,000 shares. ASTA had originally targeted around 125 million euros as gross proceeds from issuing the new shares and ultimately achieved 134,225,000 euros. ASTA Energy announced on Thursday that a total of 6.45 million shares had been placed. The issue volume amounted to 190 million euros, the market value at the issue price was 420 million. After the allocation, the free float is around 39 percent. The Austrian entrepreneur Michael Tojner remains the majority shareholder with just under 55 percent. Tojner is also known in Germany as a major shareholder in the battery manufacturer Varta.
IPO of ASTA Energy Solutions shortly after spinoff from Montana Aerospace
ASTA Energy now wants to use the proceeds from the IPO primarily to expand international capacities, invest in vertical integration and strengthen its balance sheet. Liabilities to the aerospace company Montana Aerospace, to which ASTA Energy belonged until autumn 2025, are also to be reduced. However, as part of the restructuring of Montana Aerospace into a pure aerospace company, the energy segment was sold in September to the Austrian investor Michael Tojner, who promptly took it public. However, Trojner remains the majority shareholder in ASTA Energy even after the IPO.
According to the press release, to support the corporate strategy, ASTA is also planning medium-term investments totaling around 90 to 120 million euros, which will be financed through a combination of IPO proceeds and operating cash flow. The ultimate goal is to increase our own depth of added value and become more independent of volatile raw material and supplier markets.
ASTA Energy already has big plans for the current 2025 financial year: Sales are expected to increase to around 680 million euros, which corresponds to growth of almost 5.8 percent compared to the previous year. At the same time, the company is targeting an EBITDA of between 45 and 47 million euros – in the middle of this range, the result would be around 27 percent higher than the previous year and would signal a noticeable increase in profitability. Looking to the future, ASTA has formulated the medium-term ambition of increasing annual sales to more than one billion euros.
Benefiting from global network expansion
ASTA Energy is positioning itself as a supplier at the center of the global energy transition; the company’s customers include Mitsubishi and ABB. The company produces, among other things, copper components for transformers, generators and other key applications in power grids and industrial energy systems. The business is currently being driven primarily by increasing investments worldwide in the expansion and modernization of power grids due to the boom and the high energy requirements of AI data centers.
According to the company, ASTA is internationally positioned and operates production sites in Europe, Asia and South America. The company also owns a recycling and casting platform in Brazil. This global presence is intended to help ensure customer proximity and make supply chains more robust.
The fact that ASTA has now gone public after there were already IPO rumors in 2023 according to “Kurier” and the company was examining several strategic options at the time underlines the improved market mood. Investors are again showing more willingness to evaluate industrial companies with clear strategic positioning.
Editorial team finanzen.net / dpa-AFX
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