Australian data centre operator pulls $5bn IPO:
Nvidia-backed Firmus abandons plan to list in Sydney, blaming ‘recent market volatility and prevailing market ...
ft.com/content/205ef7a5-321f-46e3-8097-d055bf1f6b3b
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Paid articlePaywall The data centre IPO debacle that sparked a market meltdown: Decisions by Australian groups Firmus and AirTrunk have added to concerns about the AI borrowing ...
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BBC Oct 10
Firmus: Nvidia-backed data centre firm scraps IPO as AI valuation concerns deepen
bbc.co.uk/news/articles/ck9dzpw4ll8po
Key FactsFirmus halts planned multibillion-dollar listing
Oct 9, 2026 · Reading time: ~45 sec.
Summary created with AI assistance · Source: asia.nikkei.com
Summary created with AI assistance · Source: asia.nikkei.com
- Firmus said the offering did not adequately reflect the company’s strength and long-term growth prospects.
- Shares were initially planned at 11 Australian dollars, implying an equity valuation of $30.6 billion.
- Firmus currently operates only two facilities, in Melbourne and Singapore; five more across Asia-Pacific are in early development.
- Analysts working for the joint lead managers said Firmus had about $30 billion in debt, implying an enterprise value of roughly $60 billion.
The board therefore concluded that proceeding with the offer was not in the best interests of the company and its shareholders.— Firmus said in a statement about scrapping its $5 billion IPO.
Breaking: Data centre operator pulls share market float due to lacking investor demand
abc.net.au/news/2026-10-09/firmus-float-gets-pulled-following-lacklustre-investor-demand/107246230
Firmus is exploring raising up to $3 billion privately after pulling its Australian IPO
qz.com/firmus-private-fundraising-ipo-withdrawn-australia-100926
Nvidia stock: Shock over 30 billion partner - | Warning signal now?: Nvidia stock: 5.5 billion IPO of partner Firmus now shaky
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