AI data centre company Firmus valued at $44bn for Australia's second-largest IPO
Firmus, a data centre company, will list on the ASX at $44 billion. This is Australia's second-largest IPO.
Firmus has set an IPO price that values the AI data centre company at $44 billion, a jump from just $1 billion a year ago. The float is Australia's second-largest IPO, behind only Telstra's 1997 privatisation.
Institutional investors can bid for shares from October 6 to 9. Trading on the ASX is scheduled to begin October 23.
Earlier this week, Firmus said it made a major deal with Meta. The deal will provide computing capacity at Southeast Asian facilities.
The company started as a bitcoin miner in 2019 and now operates data centres across Southeast Asia. Demand has already exceeded the initial offer.
- A$44 billion
- IPO valuation
- A$1 billion
- Valuation 12 months ago
- October 6-9
- Institutional bidding period
- October 23
- ASX trading date
Why it mattersThe IPO tests whether public investors will share private backers' confidence in AI infrastructure. They are testing whether it can truly be a core business at this valuation scale.
AustraliaAustralia's capital markets will see a record-breaking technology IPO, and local investors will get early exposure to the AI infrastructure boom.
✓ Claims checked against the source and corrected before publish. checked 1 h ago
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