Perth-based aerospace and defence original equipment manufacturer Innovaero is scheduled to take its place on the Australian Securities Exchange (ASX) on 22 September 2026 following a fully subscribed initial public offering.
The well-supported IPO has delivered the company $40 million in new funding before costs, via the issue of 80,000,000 shares at $0.50 each, giving Innovaero an indicative market capitalisation of $158.3 million on listing. The raise will fund the establishment of a new headquarters, research and development and manufacturing facility in Jandakot, Western Australia, advance Innovaero’s OWL family of one-way loitering munitions systems, and allow the company to expand.
Innovaero CEO Greg Tunny said the successful IPO would put Innovaero on a path to delivering sovereign drone production for Australia. “Innovaero is an established business with a 20-year history of aeronautical development, and we are now poised for an exciting period in our development. The OWL-B is currently being evaluated for certification with the Australian Defence Force as part of Mission Talon Strike, targeting entry into service in 2027, and listing on the ASX gives us the capital and platform to continue growing. The use of autonomous drones is reshaping military strategy across the globe, and Innovaero is at the forefront of bringing that capability to Australia, and to potential new customers across the world.”
Innovaero will list under the ASX ticker INN. The company’s IPO was jointly managed by Canaccord and Euroz Hartleys.
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