Gas engine and power generation system manufacturer Innio Holding GmbH (INIO.US) has disclosed the terms for its initial public offering (IPO) on U.S. stock markets. The Munich, Germany-based company intends to offer 75 million shares, all of which represent secondary shares, within a price range of $24 to $27 per share, targeting proceeds of approximately $19 billion. Based on the midpoint of this price range, Innio Holding's fully diluted market valuation would reach $19.2 billion. The Innio Group specializes in manufacturing reciprocating gas engines for power generation and natural gas compression. Its operations are divided into two main segments: Equipment and Services. The Equipment segment markets engines under the Jenbacher and Waukesha brands, with power outputs ranging from 200 kilowatts to 10 megawatts, designed to operate on natural gas and alternative fuels, including hydrogen blends. The company has an installed base of approximately 44 gigawatts across five continents, serving industrial, utility, and data center customers. The Services segment, which accounted for about 48% of revenue for the 2025 fiscal year, provides parts and maintenance services under multi-year contracts, leveraging its existing installed base. Founded in 1906, Innio Holding reported revenue of $2.8 billion for the twelve months ended March 31, 2026. The company plans to list on the Nasdaq under the ticker symbol "INIO". The joint book-running managers for the offering include Goldman Sachs, J.P. Morgan, Morgan Stanley, BofA Securities, Barclays, Citi, Baird, BNP Paribas, Deutsche Bank, RBC Capital Markets, and UBS Investment Bank. The IPO pricing is anticipated to be finalized during the week of June 1, 2026.