🇦🇺Firmus ended IPO bookbuilding; the offering’s price and transaction structure remained unresolved.

Firmus Grid Ltd.’s bookbuilding ended without settled offering terms. The supplied report describes Firmus as an NVIDIA-backed Australian data-center company and says bookbuilding closed Thursday morning in Australia. The company’s representative did not immediately comment, and the report relied on unnamed people familiar with the nonpublic transaction.

The proposed proceeds and valuation were substantial but not finalized. Firmus had planned to raise $5.5 billion including the greenshoe option, while a reported marketing price of A$11 per share implied a valuation of A$43.7 billion, stated as US$30.4 billion. These were proposed offering parameters, not proceeds received or a completed public-market valuation.

The report describes a change in investor participation during marketing. The deadline had originally been Friday and was brought forward after indications of demand exceeding the offering size, but the reported A$11 price subsequently failed to attract sufficient subscription support. Some prospective investors expressed concern about existing shareholders selling after listing; the source does not establish that such sales occurred or that the IPO was formally canceled.