Firmus, an Australia-based data center operator, plans an initial public offering on October 6 to raise A$7 billion, or about US$5 billion, in a listing on the Australian Securities Exchange, according to a term sheet.

The term sheet showed an institutional bookbuild from October 6 to 7, a prospectus expected on October 8, and trading due to start on October 22.

Retail investors could bid for shares from October 12 to 19.

If completed, the deal would be the second-largest initial public offering in Australian history after Telstra’s A$10 billion (US$7.11 billion) listing in 1997.

It would also be the fourth-largest globally so far this year, according to Dealogic, and would test investor demand for data center assets tied to AI.

Firmus has two operating data centers in Australia and Singapore, with five more under development across Asia-Pacific.

The company also faces local opposition to planned projects over power and water use as Australia moves to enforce standards for data centers, and some states are resisting rules.

🔗 Source: Reuters

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