iscover
Perth-based Australian aerospace and defence manufacturer Innovaero has lodged its prospectus with ASIC ahead of a planned Initial Public Offering and listing on the Australian Securities Exchange under the ticker ASX:INN.
The company is seeking to raise $40 million through the issue of 80,000,000 new shares at an offer price of $0.50 per share, implying an indicative pro forma market capitalisation of approximately $158 million on completion of the offer.
This content is available exclusively to Australian Aviation members.
A monthly membership is only $5.99 or save with our annual plans.
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Unlimited access to all Australian Aviation digital content
- Access to the Australian Aviation app
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Access to our Behind the Lens photo galleries and other exclusive content
- Daily news updates via our email bulletin
- Unlimited access to all Australian Aviation digital content
- Access to the Australian Aviation app
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Access to our Behind the Lens photo galleries and other exclusive content
- Daily news updates via our email bulletin
The offer is being run by Joint Lead Managers Canaccord Genuity (Australia) Limited and Euroz Hartleys Limited.
Proceeds will fund the scale-up of Innovaero’s design and manufacturing capability and continued development of its OWL family of loitering munitions, covering product and platform development, manufacturing facilities and production infrastructure, sales and market development, and strategic growth initiatives.
The company expects to commence trading on or about 18 September 2026, subject to ASX approval.
“Innovaero seeks to become the supplier of choice for both its civil and defence clients and customers by delivering products and services for both crewed and uncrewed systems to both the defence and non-defence sector,” according to chair Vince Di Pietro.
“In order to achieve its objectives, following Admission, the Company intends to advance the development of the OWL family of systems.
“In particular, the Company will focus on advancing the OWL-B system through remaining qualification and certification with the Department of Defence with the objective of securing production contracts with the Department of Defence.
“The Company operates an aerospace product development and commercialisation business with an emphasis on uncrewed aerial systems, including loitering munitions and one-way effectors, as well as enabling subsystems, mission systems and manufacturing processes aligned to Australian sovereign defence priorities.”
The company’s current focus is autonomous aerial systems and precision effectors for Australian and allied defence requirements, led by the One-Way Loitering family of electric loitering munitions and turbojet one-way effectors, alongside specialist aerospace engineering, aerial imaging and aviation systems for Australian and international customers.
The company is currently delivering the ADF’s Mission Talon Strike program under the Advanced Strategic Capabilities Accelerator. The ADF has awarded Innovaero 13 contracts totalling $47.4 million over the past five years, including the current $24.2 million Mission Talon Strike certification program.
Want to see more stories from trusted news sources?
Make Australian Aviation a preferred news source on Google.
Click here to add Australian Aviation as a preferred news source.
