A joint venture part-owned by LanzaTech Global, Inc. (NASDAQ:LNZA) raised roughly $75 million in gross proceeds through an initial public offering on the Hong Kong Stock Exchange, the carbon management company said Wednesday.
Beijing Shougang LanzaTech Technology Co., Ltd., a venture in which LanzaTech held a 9.31% equity stake before the offering, sold 40 million H-shares at a price equivalent to about $1.86 per share, implying a market capitalization of approximately $750 million at listing. The shares trade under stock code 02553.
The gross proceeds were raised before underwriting discounts and commissions. LanzaTech framed the listing as underscoring the strategic value of a more secure fuel supply.
Following the offering, LanzaTech holds 33,520,231 H-shares in the joint venture, representing approximately 8.38% of total issued share capital. The venture operates four commercial facilities using LanzaTech's carbon recycling platform and reported annual revenue ranging from approximately $77 million to $87 million between 2023 and 2025.
LanzaTech Global is a carbon management solutions company.
Nasdaq-listed shares of LanzaTech jumped over 26% on Thursday at $6.90.