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Australia's Firmus to launch $5 billion IPO on October 6, term sheet shows
The offering would be the second-largest in Australia’s history and could rise to $5.5 billion with an over-allotment option, Reuters reported.
- Australian data centre operator Firmus will launch its initial public offering on October 6, seeking to raise $5 billion, according to a term sheet reviewed by Reuters, marking the second-largest IPO in Australia's history.
- Trailing only Telstra's $10 billion Australian IPO from 1997, the listing will test investor appetite for companies building data centres and infrastructure powering the artificial intelligence boom.
- Founded in 2019 by Oliver Curtis, Tim Rosenfield, and Jonathan Levee, the company could raise up to $5.5 billion, including a $500 million over-allotment option, or "greenshoe," common in international IPOs.
- Shares will start trading on the Australian Securities Exchange on October 22, with founders' holdings locked under escrow; only 10% of their shares release after one year, and 39.9% after two years.
- Firmus operates two data centres in Australia and Singapore with five under development across the Asia-Pacific, though the company faces local opposition over concerns regarding power and water consumption.
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Firmus Seeks to Raise $5 Billion in Landmark Australian IPO
Data center operator Firmus Grid Ltd. is looking to raise at least $5 billion in an initial public offering, according to terms of the deal seen by Bloomberg, kicking off one of the biggest-ever listings in Australia.
·New York, United States
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Australia's Firmus to launch $5 billion IPO on October 6, term sheet shows
Australian data centre operator Firmus will launch its initial public offering on October 6, according to a term sheet reviewed by Reuters, seeking to raise A$7 billion ($5 billion) in the second-largest IPO in Australia's history.
·London, United Kingdom
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Coverage Details
Total News Sources6
Leaning Left0Leaning Right1Center3Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
C 75%
R 25%
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