Firmus cuts IPO price to $6.26 per share amid weak demand

Australian neocloud Firmus lowered its ASX IPO price from AU$11 to AU$9 ($6.26) due to weak investor interest. The company had targeted a AU$43.7bn ($30.3bn) valuation and will publish its prospectus on October 12 ahead of an October 23 listing.

• IPO price cut from AU$11 to AU$9 ($6.26) per share
• Firmus had targeted a AU$43.7bn ($30.3bn) valuation
• It raised $2bn in August 2026 at a post-money valuation above $10.5bn
• The 1.6GW Southgate project with CDC Data Centres was scrapped after only 43MW