Firmus $5 billion float failure deals blow to Australia's shrinking share market
The failure of Firmus' $5 billion IPO has dealt a significant blow to Australia's shrinking share market, according to investors. The Australian Securities Exchange (ASX) is currently dominated by the Big Four banks and major mining companies, leaving little room for new listings and diverse investment opportunities. Firmus' cancellation of its IPO due to market volatility and conditions is a setback for the ASX, which has been facing a decline in the number of listed companies.
The withdrawal leaves the ASX with only 1,891 companies, down from 2,066 in 2016. With a lack of new listings, capital markets are becoming increasingly limited, causing frustration among investors who desire more choices.
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- From boom to bust in five days: how Firmus’s much-hyped Australian stock market listing imploded theguardian.com
- Nvidia-backed Firmus scraps US$5 billion Australian IPO on poor demand; eyes private funding businesstimes.com.sg
- Nvidia-backed Firmus scraps US$5bil Australian IPO on poor demand nst.com.my
- Firmus $5 billion float failure deals blow to Australia's shrinking share market channelnewsasia.com
- Firmus $5 billion float failure deals blow to Australia’s shrinking share market investing.com
- Nvidia-backed Firmus shelves IPO, eyes private funding straitstimes.com
