Firmus Plans IPO to Raise $5.5 Billion, Valued at Approximately $30.6 Billion

Firmus plans to raise up to $5.5 billion through an IPO, with a valuation of approximately $30.6 billion, as investor demand has exceeded the offering size. Firmus intends to allocate about half of the shares being issued (including the over-allotment option) to selected existing strategic and financial investors, including Nvidia, Coatue, Blackstone, and Jane Street. This offering will become the second-largest IPO in Australian history. The underwriting banks expect institutional subscriptions to end on Thursday, a day earlier than originally planned; the prospectus is expected to be submitted on October 12, with trading on the Australian Securities Exchange starting on October 23. After completing a $2 billion strategic equity financing in August, Firmus was valued at approximately $10.5 billion, and based on the proposed issue price, the company's valuation has nearly tripled in two months. Firmus develops and operates modular AI factories and currently operates data centers in Melbourne and Singapore while continuously expanding into the Asia-Pacific market.

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