{
  "id": 9505328,
  "title": "Australia's Firmus expects US$77mil first-half loss as it plans US$5bil IPO, sources say",
  "url": "https://urgent.news/2026/09/24/australias-firmus-expects-us-77mil-first-half-loss-as-it-plans-us",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T06:27:36.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/09/1540115/australias-firmus-expects-us77mil-first-half-loss-it-plans"
  },
  "original_language": "en",
  "account": "Australian data centre firm Firmus anticipates a US$77 million loss for the current half-year period, according to sources familiar with its draft prospectus. The firm is set to launch a US$5 billion initial public offering (IPO) to fuel its expansion plans. Backed by investors such as Blackstone, Firmus serves major clients like Nvidia, Meta, and OpenAI. It is scheduled to commence trading on the Australian Securities Exchange on October 22. Should the IPO proceed, Firmus could achieve a valuation of up to US$60 billion, according to local reports. Analysts believe the share sale will gauge investor interest in infrastructure firms catering to the rising demand for computing power driven by AI advancements. The firm projects a pro forma loss after tax of US$77 million for the first half of its fiscal year ending June 30, 2027, citing a draft prospectus obtained by prospective investors. The document, however, does not include any forecasts beyond the first half of the 2027 financial year. Firmus described itself as historically loss-making in the prospectus, with its losses primarily attributed to the expenses of developing and scaling the business to secure significant contracts with customers. The proceeds from the IPO will be utilized to finance additional capital investments. Firmus currently operates two data centers in Australia and Singapore, with five more under development, predominantly in the early stages, throughout the Asia-Pacific region. The institution will commence its bookbuilding process on October 6, and the prospectus will be made public on October 8.",
  "summary": "SYDNEY: Australian data centre operator Firmus expects to lose US$77 million in the current half, according to two people familiar with a draft prospectus, as the firm prepares for a US$5 billion initial public offering (IPO) to fund growth.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "HSBC plans India equity broking return after 13 years amid IPO boom, sources say",
        "url": "https://urgent.news/2026/09/24/hsbc-plans-india-equity-broking-return-after-13-years-amid-ipo-boom",
        "published": "2026-09-24T08:05:01.000Z"
      }
    ]
  },
  "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."
}