🇦🇺Australian Securities and Investments Commission questioned underwriters about AI-data-center developer Firmus’s failed IPO; no formal investigation has begun.

The company concerned is Firmus Grid Ltd., the AI-data-center developer whose initial public offering failed earlier in October. The detailed report says the Australian Securities and Investments Commission, or ASIC, was seeking information from investment banks but had not opened a formal investigation.

ASIC Chair Sarah Court described “targeted inquiries” to the offering’s joint lead managers in an October 28 letter. The letter responded to questions raised earlier in the month by Senator Dave Sharma and said ASIC would assess the information received before considering further action.

The joint lead managers were Bank of America, JPMorgan, Morgan Stanley, and Morgans Financial Ltd. Bank of America declined to comment, while the other institutions did not respond to the cited media inquiries.

Shorter Telegram headlines described the offering as a $5 billion failed IPO, but the detailed account does not clarify that figure’s valuation or proceeds basis. Some headlines also used “investigation” loosely; the more specific account explicitly distinguishes the ongoing information requests from a formal investigation.