Firmus Withdraws Planned $5 Billion IPO Amid Market Volatility

Firmus has withdrawn its planned $5 billion initial public offering, citing market volatility and conditions that it said did not support terms reflecting the Australian AI data center operator’s business and long-term growth prospects. The Nvidia-backed company had planned to price the offering at 11 Australian dollars per share. If completed, the IPO would have valued Firmus at about $30.6 billion and ranked as the second-largest in Australian history. Firmus said it will turn to private-market financing while evaluating additional public and private funding options.

Source: TokenPost