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Australia’s corporate regulator probes Firmus IPO bankers, The Australian reports
ASIC is examining whether bankers accurately marketed Firmus’s $5 billion float as the company shifts to private fundraising.
- On Thursday, Australian Securities and Investments Commission chair Sarah Court confirmed the regulator is making targeted inquiries into the joint lead managers of the failed Firmus IPO.
- The data centre operator shelved its $5 billion IPO on October 9 following a lack of investor interest, opting for alternative fundraising options including private markets.
- ASIC is investigating whether information provided to institutional and wholesale investors during the marketing and book-building process was accurate, appropriately qualified, and supported by a reasonable basis.
- Appearing at a Senate estimates hearing on Thursday, Court stressed these inquiries are preliminary and that no formal investigation has been launched.
- Firmus faces significant financial pressure, with $780 million in payments due this year and requirements to hand over shares if it fails to go public by next month.
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Sydney Morning Herald+3 Reposted by 3 other sources
Failed $44b Firmus float probed by corporate watchdog
ASIC has confirmed it is investigating the aborted float of data centre start-up Firmus that would have been the largest ASX listing since Telstra in 1997.
·North Sydney, Australia
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Scrapped Firmus float casts doubt on billions in AI data centre builds
Billions of dollars in commitments to buy AI chips by Firmus are in doubt as a result of the Australian data centre company's stalled attempt to go public, according to records filed with the financial regulator.
·Ultimo, Australia
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·London, United Kingdom
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Bankers in Failed Firmus IPO Probed by Australian Regulator
Australia’s corporate regulator is seeking information from investment banks on the failed Firmus Grid Ltd. initial public offering earlier this month, stopping short of opening a formal investigation into the matter.
·New York, United States
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Total News Sources11
Leaning Left4Leaning Right3Center4Last UpdatedBias Distribution37% Left, 36% Center
Bias Distribution
- 37% of the sources lean Left, 36% of the sources are Center
37% Left
L 37%
C 36%
R 27%
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