Firmus is seeking $5bn in its Australian float after doubling its valuation to $10.5bn
Firmus is seeking up to $5bn in its listing on the Australian Securities Exchange, according to Bloomberg, which would make it one of the largest floats the exchange has handled.
The figure the company was working with in April was $2bn, at a valuation of $5.5bn. By August the valuation had passed $10.5bn.
Investor meetings began in the middle of this month, with Australian roadshows to follow. No pricing, listing date or free float has been announced.
The five months between those two numbers were unusually productive. OpenAI signed a multi-year compute contract across two Malaysian sites last week, becoming the anchor customer and pushing Firmus past 900MW of contracted capacity.
Neither side disclosed what the contract is worth, which has not stopped it from doing the work of a prospectus.
In June, the company committed to a 360MW site in Batam, Indonesia, with access to as many...
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