Data center operator Firmus prices IPO at A$11 per share, valuing it at around A$43.7 billion

Data center operator Firmus Grid Ltd. priced its IPO at A$11 per share, valuing it at about A$43.7 billion ($30.3 billion), down from previous expectations of as much as A$50 billion, according to Bloomberg. The company's bookbuilding will take place from October 6 to 9, with a listing on the Australian Securities Exchange expected on October 23, in what could be one of Australia's largest IPOs. Firmus plans to use the proceeds to purchase GPUs and build its NVIDIA-backed data center project in Batam, Indonesia, in partnership with DayOne Data Centers. Firmus started out as a Bitcoin mining operation in Tasmania, Australia in 2019 and is now moving into AI data center infrastructure.