Firmus pulls biggest ASX float since Telstra amid investor doubt about datacentre company

Firmus Technologies cancelled its planned initial public offering, which had been expected to be Australia’s largest company listing in decades. The decision followed a lack of investor interest in the company’s highly promoted artificial‑intelligence data centre business. Firmus said the board concluded that proceeding with the offer was no longer in the best interests of the company and its shareholders.

The offer would have been the biggest debut on the stock market since the telecommunication giant in 1997 Firmus Technologies has scrapped what was set to be Australia’s biggest company listing in decades after investor demand for its much-hyped AI data centre business failed to materialise. A Firmus spokesperson said the board decided that proceeding with the offer was no longer in the best interests of the company and its shareholders.

Summarised by Agaah from The Guardian. Agaah aggregates 36 sources and removes duplicate coverage — all news, one place.