Australia's corporate regulator probing failed $5 billion Firmus IPO
Australia's corporate regulator said on Thursday it was probing the failed $5 billion initial public offering of AI data centre operator Firmus.
- ✓Australia's corporate regulator said on Thursday it was probing the failed $5 billion initial public offering of AI data centre operator Firmus.
- ✓IANSAustralia's corporate regulator said on Thursday it was probing the failed $5 billion initial public offering of AI data centre operator Firmus.
- ✓Firmus' planned IPO, due to be the second largest ever in Australia, collapsed on October 9 after failing to gain enough investors backing.
(Catch all the Technology News News, and Latest News Updates on The Economic Times.) SynopsisAustralia's corporate regulator said on Thursday it was probing the failed $5 billion initial public offering of AI data centre operator Firmus.
IANSAustralia's corporate regulator said on Thursday it was probing the failed $5 billion initial public offering of AI data centre operator Firmus. Australian Securities and Investments Commission Chair Sarah Court said the regulator was yet to launch an official investigation, but said it had engaged with the banks leading the share sale.
Firmus' planned IPO, due to be the second largest ever in Australia, collapsed on October 9 after failing to gain enough investors backing. The Nvidia-backed AI data center operator had planned to raise $5 billion in the IPO to value the company at $30.6 billion, triple the value achieved during a private fund raising round in August.
"I think it's fair to say that we are having a look at the broad range of issues that have been reported in the media, including engaging with the joint lead managers," Court told a hearing of Australian lawmakers. "This was a very significant event, we understand that and we need to look at it carefully.
That's what we're doing." The deal's joint lead managers were Bank of America, JPMorgan, Morgan Stanley and brokerage Morgans. Morgan Stanley and JPMorgan declined to comment on the ASIC inquiries, while Bank of America and Morgans did not immediately respond to a Reuters request for comment.
Read more news onFirmus IPOAustralia corporate regulatorASIC investigationfailed IPOAI data center operator (Catch all the Technology News News, and Latest News Updates on The Economic Times.) Elevate your knowledge and leadership skills at a cost cheaper than your daily tea.
The tough business behind the wallsKYC and KYB: Inside Damani’s DMart, the retail chain for the middle class. And stock for the long term? – Part 2 of 3Will it be a regulatory nightmare if an exchange lists on its own platform?KYC and KYB: Inside Damani’s Avenue Supermarts that refuses to charge more – Part 1 of 3Will oil turn into a lingering problem?
Is the world economy, India, or the market prepared?KYB and KYC: Business behind the wealth creator called ‘Divi’s Lab’ – Part 2, concludingKYB and KYC: Business behind the wealth creator called “Divi’s Lab” – Part 1The global business of promising moreOne company, 2 words.
Bond yield and CDS: Will they decide the fate of global markets?Business of Odd Things: Inside an industry that farms fish that nobody is meant to eat
- •Aspirants and citizens are advised to monitor official notices and circulars issued by ET Tech & Digital India.
- •Verify all prescribed eligibility criteria, cutoff dates, and authenticated document requirements prior to formal submissions.
- •Track connected examination timetables, vacancy advisories, and administrative gazettes on SuchnaSetu.
| Issuing Authority | ET Tech & Digital India |
|---|---|
| Topic Category | TECHNOLOGY |
| Jurisdiction | All India / National |
| Publication Date | 29 October 2026 |