Firmus opens its bookbuild for a record float, with the price and size still shifting
Firmus Technologies, an Nvidia-backed AI data-centre company, opened the institutional bookbuild for its ASX float this week. Reuters, citing a term sheet, put the price at $11 a share and the offer at about $7.1 billion, which would value the company around $44 billion. The AFR said earlier that interest was well above a $7.9 billion target, and that 42.4 per cent of stock would be held in escrow after the debut. The Herald reported a speed bump. Reports differ on the debut date, between October 22 and 23. The company expects a half-year loss of $77 million, according to Reuters.
It would be Australia's second-largest float after Telstra's 1997 sale, and a test of appetite for AI infrastructure when bond yields are rising.
If you hold super, you may own it through index funds once it lists.
Treat every number as provisional until the prospectus is lodged.
DailyDrop Australia edition No. 2 · Morning · TUE., OCT. 6, 2026