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Australia's Firmus to allocate half of up to $5.5 billion IPO to existing investors, sources say

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Australia's Firmus to allocate half of up to $5.5 billion IPO to existing investors, sources say

Business News Tech AI Australia's Firmus to allocate half of up to $5.5 billion IPO to existing investors, sources say

Australia's Firmus to allocate half of up to $5.5 billion IPO to existing investors, sources say

Firmus, the Australian data centre operator, is gearing up for a noteworthy initial public offering worth $5.5 billion. In a strategic move, the company plans to distribute half of this capital to selected existing investors. Expected to commence trading on the Australian Securities Exchange on October 23, shares will be priced at A$11.

Australian data centre operator Firmus plans to allocate about half of its up to $5.5 billion initial public offering, including the over-allotment option, to selected existing strategic and financial investors, two people with knowledge of the matter said. The people did not identify which shareholders were set to receive allocations. Firmus said in previous press statements that its investors include Nvidia, Coatue, Blackstone and Jane Street. In an $2 billion strategic equity round in August, Firmus said Nvidia and Coatue made follow-on investments, while Blackstone and Jane Street also participated.

Bloomberg first reported the news earlier on Monday. The planned share sale would be the second-largest Australian-listed ⁠IPO on record, behind only Telstra's $10 billion share sale in 1997. Indications of interest have exceeded the shares available in the offering, one of the people said. Bookbuilding will begin on Tuesday and the stock is due to start trading on the Australian Securities Exchange on October 23. 6 billion, according to a term sheet seen by Reuters.


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