Nvidia-Backed Firmus Advances Plans for IPO of Up to $5.5 Billion
Details of Australian data centre operator Firmus's listing plans emerged on 5 October 2026. Reuters, citing two people with knowledge of the matter, reported that Firmus planned 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. Its backers include Nvidia, Coatue, Blackstone and Jane Street.
The share price had been fixed at A$11, giving the company a valuation of about A$30.6 billion. If completed, the sale would rank as the second-largest IPO in Australian Securities Exchange history, behind only Telstra's roughly $10 billion flotation in 1997. Firmus raised $2 billion in a strategic equity round in August that valued it at about $10.5 billion post-money, meaning its valuation had nearly tripled in two months.
Indications of interest had already exceeded the shares available, the sources said. Institutional bookbuilding was scheduled to begin on Tuesday and could close a day early, on Thursday. The company was due to lodge its prospectus on 12 October, with trading on the ASX expected to start on 23 October. Bank of America, JPMorgan, Morgan Stanley and Morgans are leading the offering.
The Firmus float is seen as a rare large technology listing for the Australian market. With global demand for super intelligence computing capacity surging, data centre assets have attracted intense investor interest, and the deal is being watched as a test of Australia's capacity to absorb very large new listings.
Published by GSM · USA (original Chinese edition)
Photo: 数据中心服务器机房（资料图）。摄影：BalticServers.com，CC BY-SA 3.0，来源：Wikimedia Commons
