{
  "id": 12075616,
  "title": "Sources: Firmus plans to allocate ~50% of its IPO shares to existing holders, as investor demand far exceeds the offer size in one of Australia's largest IPOs (Bloomberg)",
  "url": "https://urgent.news/2026/10/05/sources-firmus-plans-to-allocate-50-of-its-ipo-shares-to-existing",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T04:25:01.000Z",
  "source": {
    "name": "Techmeme",
    "slug": "techmeme",
    "url": "https://www.bloomberg.com/news/articles/2026-10-05/firmus-said-to-plan-allocating-half-of-ipo-to-existing-investors"
  },
  "original_language": "en",
  "account": null,
  "summary": "Firmus Grid plans to allocate about half of its initial public offering shares to existing shareholders. This move comes as investor demand for the Australian data centre operator's IPO far exceeds the offer size. According to Bloomberg, investor indications are well above the offer size, with Firmus seeking to raise as much as A$5.5 billion, or $3.8 billion.\n\nThe IPO is priced at A$11 a share, implying a valuation of about A$43.7 billion, or $30.3 billion. Existing investors Nvidia and Blackstone are positioned to increase their stakes in the company. The bookbuilding deadline has been brought forward to Thursday from Friday.\n\nThe listing could rank among Australia's largest IPOs, comparable with Medibank's 2014 offering, which raised just under $5 billion, according to Investing.com and The Business Times - Companies & Markets.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Ajel English",
        "title": "IMF chief forecasts strong economic growth for Saudi Arabia in 2027",
        "url": "https://urgent.news/2026/10/04/imf-chief-forecasts-strong-economic-growth-for-saudi-arabia-in-2027",
        "published": "2026-10-04T10:33:56.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Saudi Arabia stocks higher at close of trade; Tadawul All Share up 1.09%",
        "url": "https://urgent.news/2026/10/04/saudi-arabia-stocks-higher-at-close-of-trade-tadawul-all-share-up-1-09",
        "published": "2026-10-04T12:45:04.000Z"
      },
      {
        "outlet": "Saudi Gazette",
        "title": "New Saudi CMA chief plans market reforms within 90 days, eyes 30% retail share in IPOs",
        "url": "https://urgent.news/2026/10/04/new-saudi-cma-chief-plans-market-reforms-within-90-days-eyes-30",
        "published": "2026-10-04T14:33:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}