Firmus pulls its ASX listing as investors balk at AI infrastructure valuation

The Australian data center company withdrew a planned IPO that would have valued it at roughly A$43 to A$44 billion after investor interest fell short Firmus Technologies wanted to go public on the Australian Securities Exchange. Investors looked at the price tag and declined. The Australia-based AI infrastructure company withdrew its ASX listing application around October 9, 2026, after demand failed to show up at its proposed valuation. The proposed offering aimed to raise between $5.5 billion and $8 billion AUD. Shares were set at A$11 each. At that price, Firmus would have carried a market capitalization of approximately A$43 billion to A$44 billion. That would have made it one of the largest listings of its kind in Australia.

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