Data centre company Firmus tries to save its mega share market float as interest underwhelms
Data centre operator Firmus is facing significant challenges ahead of its planned October 23 ASX float. Analysts have raised concerns regarding the company's high debt levels and rapid valuation increases, leading to uncertainty about the IPO's success.
Why it matters
The potential collapse of a major IPO signals broader investor caution regarding the data centre sector and high-growth tech valuations.
The Firmus Technologies site in St Leonards, Launceston. Its data centres require a lot of energy and expansion plans have been described as ambitious. ( Supplied: Tasmanian government )
The $44 billion Australian float of data centre operator Firmus appears to be in trouble.
But Firmus is not currently listed on the ASX's "upcoming floats and listings" webpage, and analysts who spoke to the ABC have raised concerns over the firm’s debts and the wild increase in its valuation over a short period of time.
The company is scheduled to float on the ASX on October 23.
Link copied Share Share article It was touted as the biggest float since Telstra in the 1990s, but the share market debut of data centre operator Firmus is in trouble before it has even hit the share market.
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