Reports say Firmus may adjust the terms of its expected $5 billion initial public offering (IPO), causing Maas Group shares in Australia to plunge by 30%.
路透社2026/10/08 02:01Reuters, October 8 – On Thursday, shares of Australian Maas Group (MGH.AX) plunged 30%, heading for a record single-day drop, following reports that artificial intelligence infrastructure firm Firmus plans to amend terms for its highly anticipated $5 billion initial public offering (IPO). Here are more details: Real estate company Maas holds a 3.2% stake in Firmus, which is backed by NVIDIA, while OpenAI is one of Firmus’s primary clients. Firmus is preparing for a potential listing that could become Australia’s second-largest IPO ever (link), with its equity valued at $30.6 billion. Earlier this week, there were reports that, due to lower-than-expected overseas investor demand, Firmus may cut its IPO price from A$11 per share. Maas shares at one point plummeted 30.1% to A$4.47, hitting their lowest since May 6. In early August, the real estate developer committed (link) an additional investment of A$300 million (approximately $208.77 million) in Firmus, through the purchase of ordinary and preferred shares priced at A$230 per share, raising its stake in the data center operator to 3.2%. If the proposed listing proceeds, it would be the largest IPO in Australia in nearly thirty years and only second in size to Telstra's roughly $10 billion listing in 1997, making it the second largest in history. This will be a key test of investors’ appetite for companies building the infrastructure fueling the artificial intelligence boom. (US$1 = A$1.4370)
Reuters, October 8 - On Thursday, shares of Australia’s Maas Group (MGH.AX) fell by 30%, set for their biggest ever one-day drop, after reports that AI infrastructure company Firmus plans to revise the terms of its highly anticipated $5 billion initial public offering (IPO).
More details are as follows:
Real estate company Maas holds a 3.2% stake in Firmus, which is backed by NVIDIA NVDA.O, and OpenAI is a major client of Firmus
Firmus is preparing for a listing that could become the second largest IPO in Australian history (link), with an equity valuation of $30.6 billion
Earlier this week, it was reported that due to weaker-than-expected demand from overseas investors, Firmus may lower the IPO price from A$11 per share
Maas shares once plunged 30.1% to A$4.47, the lowest level since May 6
In early August, the property developer pledged (link) an additional injection of A$300 million ($208.77 million) into Firmus, increasing its stake in the data center operator to 3.2% through ordinary and preference shares priced at A$230 per share
If the proposed IPO is completed, it will be Australia’s largest initial public offering in nearly thirty years, second only to Telstra’s approximately $10 billion listing in 1997
This will be a critical test of investor interest in companies building infrastructure underpinning the AI boom
(1 US dollar = 1.4370 Australian dollar)
(To assist non-native English speakers, Reuters has automated its reporting translations into several other languages. As automated translations may contain errors or lack necessary context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for readers’ convenience. Reuters assumes no responsibility for any damage or loss resulting from the use of automated translation services.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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