Firmus eyes $7 billion IPO, potentially Australia's second-largest float
Firmus Technologies is raising up to $7 billion in an October share market float.
AI data centre developer Firmus Technologies is preparing to list on the Australian share market next month. The company intends to raise up to $7 billion and could be valued at more than $50 billion depending on how much equity it sells.
Firmus would become Australia's second-largest float, behind Telstra's $14 billion sale in 1997. Firmus is currently courting investors across Asia and Australia ahead of the float.
Last week the company signed a multi-year deal with OpenAI for two AI factory sites in Malaysia. It is building data centres in Tasmania, South Australia, Victoria, New South Wales, Western Australia and the ACT, with plans for seven facilities across four countries within 24 months.
- $7 billion
- Capital raising target
- $50 billion plus
- Potential valuation
- October
- IPO timing
- Seven across four countries in 24 months
- Data centre target
Why it mattersThis float could reshape Australia's investment landscape and signal major institutional confidence in AI infrastructure as a growth sector.
AustraliaAn Australian-headquartered company could inject billions in capital into local markets and fund rapid expansion of data centre infrastructure across the country.
✓ Claims checked against the source. checked 9 d ago
