Australia’s Firmus Launches $5 Billion IPO, Second-Largest Ever
Australian data centre operator Firmus will launch its initial public offering today, October 6. The company is seeking to raise A$7 billion, about $5 billion. The IPO would be the second-largest in Australia's history.
It would trail only Telstra's $10 billion listing in 1997. It would also be the fourth-largest IPO globally this year. The institutional bookbuild opens today and closes on October 7.
A prospectus is expected on October 8. Retail investors can bid from October 12 to 19. Shares start trading on the ASX on October 22.
The company was founded in 2019. It is riding the AI boom. Demand for the computing power behind artificial intelligence is rising fast.
With an over-allotment option, the company could raise up to $5.5 billion. The founders' shares will be locked up under escrow after listing. The company was founded in 2019 by Oliver Curtis, Tim Rosenfield, and Jonathan Levee.
Its shares will list on the ASX on October 22. The IPO tests investor appetite for AI infrastructure. Demand for data centre capacity is rising fast worldwide.
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