The decision follows a 25% cut in the company's AI valuation to $33B and a slide in indicative bid prices from $11 to $8. Bankers had cited weak demand from overseas investors, while some market participants criticized the company's "EV+1/EBIT+2" valuation metric, which basing enterprise value on debt in one year divided by projected earnings in two years.
Wednesday, October 21, 2026
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Firmus Withdraws ASX Listing to Seek Private Capital
Startups12 days ago
A failed attempt to attract foreign investment has forced a change in the growth strategy for the operator of Firmus Grid. The Nvidia-backed data center provider officially withdrew its application to list on the Australian Securities Exchange and is instead pursuing funding from private markets, according to people familiar with the matter.
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