Reuters says Firmus seeks a $30.6 billion valuation in its IPO this month
Reuters says the IPO could be Australia's second-largest listing on record
Reuters reports the IPO would raise A$7.1 billion at proposed pricing
Firmus is set to debut on the Australian Securities Exchange on Oct. 23
Firmus announced an AI infrastructure agreement with Meta
Firmus signed a multi-year AI compute deal with OpenAI
Firmus Technologies, an AI infrastructure firm, is seeking a $30.6 billion valuation in its IPO this month, which could be the second-largest Australian public listing on record, according to Reuters.
Reuters reported Thursday that the company is pricing its shares at A$11 ($7.60) each, which would raise A$7.1 billion ($4.9 billion) for the IPO at a $30.6 billion valuation. Firmus could also raise an additional $500 million from an over-allotment option.
The company is set to debut on the Australian Securities Exchange on Oct. 23. According to the outlet, Firmus is estimated to have $30 billion worth of debt and an enterprise value of roughly $60 billion.
Firmus started out as a bitcoin mining firm in 2019 and currently has seven facilities across Australia, Singapore, Indonesia, and Malaysia. According to a statement released last month, two sites in Australia and Singapore are operational, while the other five are under development.
Earlier this week, Firmus announced that it has signed strategic AI infrastructure agreements with Meta for GPU compute capacity at its sites in Southeast Asia. The company has also signed a multi-year deal with OpenAI, which will take dedicated AI compute capacity from two Firmus sites in Malaysia.
Firmus is also looking to ramp up investment in its AI infrastructure business. Last week, Firmus was reportedly seeking a roughly $10 billion financing package to buy Nvidia chips for its data center in Indonesia.
