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Nvidia-backed Firmus prices landmark IPO at A$11, targets A$5 billion raise
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Moneycontrol•02-10-2026, 08:14
Nvidia-backed Firmus prices landmark IPO at A$11, targets A$5 billion raise
- •Data center operator Firmus Grid Ltd. has priced its initial public offering at A$11 a share, aiming to raise at least A$5 billion in one of Australia's largest-ever IPOs.
- •The pricing implies a valuation of approximately A$43.7 billion for Firmus, with the bookbuild scheduled from October 6 to October 9 and an ASX debut targeted for October 23.
- •The listing is set to significantly boost Australia's primary market, potentially matching Medibank Pvt's nearly A$5 billion offering in 2014.
- •Firmus has secured substantial investments, including A$2 billion from Jane Street, Blackstone Inc., and Nvidia Corp., and A$505 million in a Coatue Management LLC-led funding round.
- •Proceeds will fund purchases of graphics processing units for its first data center project in Batam, Indonesia, developed in partnership with Nvidia Corp., capitalizing on surging AI infrastructure demand.
Key Questions Answered
Data center operator Firmus Grid Ltd. has priced its initial public offering at A$11 a share, seeking to raise at least $5 billion in its Australian IPO. The listing implies a valuation of roughly A$43.7 billion for the company.
The bookbuild for Firmus is scheduled to open on October 6 and close on October 9, unless it is accelerated. The company is targeting its official debut on the Australian Securities Exchange (ASX) on October 23.
The proceeds from the IPO will fund purchases of graphics processing units for Firmus's first data center project in Batam, Indonesia. This project is being developed alongside DayOne Data Centers as part of an eight-year partnership with US chip giant Nvidia.
