Indicative bid prices for Firmus Grid started at $11 but fell to $9 and then $8 before order placement was halted, the Australian Financial Review reported. The downward pressure on the listing was primarily driven by weak demand from overseas investors. The operator of AI data centers is now attempting to stabilize its public market debut by offering shares at a significantly lower entry point.
Tuesday, October 20, 2026
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Firmus Slashes AI IPO Valuation 25% to $33B
AI13 days ago
The expected market value of an Australian infrastructure listing was revised downward on Thursday. Firmus reduced its AI IPO valuation by 25% to $33B after closing the books on a struggling offering that failed to attract sufficient buyers at original targets. The company took the step after bankers cautioned that the listing could be canceled entirely if investor interest did not improve.
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