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Update
What changedBloomberg’s report, carried by Yahoo Finance UK, says Firmus Grid was seeking to raise $5.5bn including a greenshoe option, at A$11 a share. That would imply a valuation of A$43.7bn, or about US$30.4bn, but the report says the final price and structure were still unclear after bookbuilding closed.
The report says Firmus brought the bookbuilding deadline forward by a day, after demand had initially exceeded the offer size. Some prospective investors later grew more cautious over the prospect of existing shareholders selling soon after a listing, it says. A large proposed valuation, then, was not the same thing as a settled deal.
The financing has a direct AI-infrastructure connection: proceeds were intended to buy GPUs for Firmus’s first data centre in Batam, Indonesia, being developed with DayOne under an eight-year partnership with Nvidia.
Sources and evidence- Nvidia-backed Firmus closes IPO bookbuilding as investor support falter -Bloomberg – Yahoo Finance UK: Bloomberg reported that Firmus Grid’s IPO bookbuilding closed with the final price and structure unclear; the company had sought to raise $5.5bn, with proceeds intended to fund GPUs for a data centre in Batam.
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