Australia’s Firmus to Allocate Half of up to $5.5 Billion IPO to Existing Investors, Sources Say
The data centre operator drew indications well above the offer size and aims to raise up to US$5.5 billion, people familiar with the matter said.
- Sydney-Headquartered Firmus plans to allocate nearly half of its up to $5.5 billion IPO to existing strategic and financial investors, positioning major backers Nvidia and Blackstone to increase their stakes.
- Firmus has set the share price at $11, implying a valuation of about $30.6 billion, which has nearly tripled since the August funding round that valued the business at around $10.5 billion.
- Banks leading the IPO now expect to close the institutional bookbuild on Thursday, a day earlier than planned, with trading on the Australian Securities Exchange expected October 23 as investor interest has exceeded available shares.
- This offering is shaping up to be the second-largest Australian-listed IPO on record, trailing only Telstra's $10 billion sale in 1997, providing a significant boost to Australia's primary market where proceeds this year have totaled just over $1 billion.
- Firmus intends to use the proceeds to fund graphics processing units for its first data centre project in Batam, Indonesia, leveraging the company's modular AI-infrastructure factories using proprietary energy and cooling technology.
12 Articles
12 Articles
Firmus Said to Plan Allocating Half of IPO to Existing Investors
Firmus IPO: Australia's Firmus to allocate half of up to $5.5 billion IPO to existing investors, sources say
Firmus, the Australian data centre operator, is gearing up for a noteworthy initial public offering worth $5.5 billion. In a strategic move, the company plans to distribute half of this capital to selected existing investors. Expected to commence trading on the Australian Securities Exchange on October 23, shares will be priced at A$11.
Nvidia-backed Firmus targets $5.5 billion IPO at $30.6 billion valuation, plans to allocate half to early investors - Tech Startups
Australian AI infrastructure company Firmus is preparing to raise up to $5.5 billion in one of the country’s largest-ever IPOs, with investor demand already exceeding the number of shares on offer and the company’s valuation nearing $30.6 billion. Sydney-based Firmus […] The post Nvidia-backed Firmus targets $5.5 billion IPO at $30.6 billion valuation, plans to allocate half to early investors first appeared on Tech Startups.
Australia's Firmus to allocate half of up to $5.5 billion IPO ...
Coverage Details
Bias Distribution
- 67% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
