What happened
AI data centre operator Firmus priced its initial public offering at $11 per share, implying a valuation of approximately $43.7 billion. The float will raise up to US$5.5 billion, with about half the stock allocated to existing shareholders, including Nvidia and Blackstone. MAAS Group retains a 3.2 per cent stake valued at $1.4 billion.
Why it matters here
Firmus’s float represents one of Australia's largest market listings, matching Medibank’s 2014 IPO. Proceeds will directly fund GPU purchases for its first data centre in Indonesia under an eight-year partnership with Nvidia. For ASX investors, the valuation crystallises significant balance sheet value for key equity holders.
What to watch
The upcoming stock exchange listing following the brought-forward bookbuild close, along with operational updates regarding GPU deployment at the Batam data centre facility in Indonesia.
Source
marketindex.com.au